# Liberty Defense CEO Bill Frain to Step Down, COO Keith Teichmann Named Interim CEO

- URL: https://stocks.freetheai.org/news/liberty-defense-ceo-bill-frain-to-step-down-coo-keith-teichmann-named-interim-3f1593
- Published: 2026-10-13T20:45:00Z
- Category: company_news; sentiment: bearish; impact: medium
- Symbols: [TSXV:SCAN](https://stocks.freetheai.org/symbols/TSXV-SCAN)
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Liberty Defense Holdings Ltd. (TSXV:SCAN) announced that Chief Executive Officer Bill Frain is resigning and will step down from his role on October 31, 2026. Frain also departed the company's board of directors effective October 13, 2026. Chief Operating Officer Keith Teichmann will step in as Interim Chief Executive Officer, while Frain remains through the end of the month to assist with the leadership transition. Shares of Liberty Defense dropped 15.19% to 2.29 CAD following the announcement.

The leadership change comes as the company expands deployments of its threat detection systems. Frain previously oversaw the installation of the HEXWAVE scanner across more than 20 sites, including major domestic airports. Teichmann brings operational and engineering experience to the interim role, having previously held senior leadership positions at technology and industrial firms prior to joining Liberty Defense.

Moving forward, investors will monitor how the transition impacts commercial growth for the company's security product portfolio. Key priorities include continuing the rollout of the HEXWAVE scanner and advancing its TSA-supported body and shoe scanning technologies across aviation, government, and distribution markets.

## Key points

- Liberty Defense CEO Bill Frain will step down on October 31, 2026, and departed the board on October 13, 2026.
- Chief Operating Officer Keith Teichmann has been appointed as Interim Chief Executive Officer.
- Frain will stay through the end of October to assist with an orderly organizational transition.
- Company shares dropped 15.19% to 2.29 CAD following the executive change announcement.

## Questions and answers

### Who is the new interim CEO of Liberty Defense?

Keith Teichmann, the company's current Chief Operating Officer, was appointed as Interim Chief Executive Officer.

### When is Bill Frain stepping down as CEO of Liberty Defense?

Bill Frain will step down as CEO on October 31, 2026, and left the board of directors on October 13, 2026.