The sudden leadership shakeup at the Dallas-based aerospace firm comes alongside a significant administrative hurdle. XTI Aerospace has notified the Securities and Exchange Commission that it will delay the filing of its quarterly report for the period ending June 30, 2026. The company cited the ongoing internal investigation into the former chief executive’s activities and broader corporate governance matters as the primary cause for the postponement.

To navigate the uncertainty, the board has turned to internal talent and external experience. Jeremy Schneiderman, who has led the company’s Drone Nerds division since 2014, steps into the interim CEO role with a mandate to stabilize operations and capitalize on the growing demand for U.S.-sourced drone technology. Jonathan Ornstein, a longtime aviation executive with a career spanning leadership roles at Mesa Air Group and Continental Express, will oversee the board’s efforts during this period. The management transition has already forced the company to withdraw from the Needham Annual Virtual Industrial Tech, Robotics and Power Conference, signaling a temporary retreat from external investor engagements while the internal review concludes.