Business
Gad Offers No Plan for Future of Paragon
Gad Offers No Plan for Future of Paragon.
About this update from Paragon Technologies, Inc.
[{"type":"text","content":"\r\n\r\n \r\n \r\n Gad Offers No Plan for Future of Paragon\r\n \r\n \r\n\r\n\r\nGad Offers No Plan for Future of Paragon\r\n\r\n\r\n\r\n\r\n\r\nParagon Has a Strategic Plan to Create Shareholder Value EASTON, PA / ACCESS Newswire / May 7, 2025 / Paragon Technologies' (OTC PINK:PGNT) Nominating and Corporate Governance Committee today issued a statement questioning the leadership and vision of Paragon's Former Chairman and CEO, Hesham Gad, in light of his track record of poor capital allocation, mismanagement, and ill-advised activist campaigns. Even in his attempt to gain control of the Company through a consent solicitation or proxy contest, Gad still has failed to provide any substantive answers regarding his plans for Paragon's future.\r\n No Plan. No Vision. No Track Record of Success.\r\n In a previous release, the Committee made the case based on his history of deceit and why it believes Gad was unfit to be a director at a public company. In addition to the character issues, the Committee believes Mr. Gad lacks the management and investment skills necessary to be successful at Paragon. In contrast to the Company's strategic plan, Gad has yet to offer shareholders a credible plan for Paragon's future. This lack of vision is not new-under his leadership, Paragon became a case study in operational dysfunction and missed opportunity. Gad's tenure was marked by:\r\n \r\n A deeply underperforming investment portfolio that failed to deliver returns during a historic bull market.\r\n A poor performing real estate portfolio, that we believe was likely purchased so Gad could take company paid trips to Las Vegas.\r\n Mismanagement of Paragon's foreign subsidiary, SED International de Colombia S.A.S., which remains exposed to significant currency and political risk.\r\n Neglect of SI Systems, a core business that deteriorated under his watch due to lack of investment and strategic oversight.\r\n \r\n The Committee believes: Gad proved he could not run the business-he simply isn't qualified to do so; his actions suggest an interest in control, not value creation; a return to his leadership would mean more of the same: poor performing investments, poor judgment, personal agendas, and no discernible strategy.\r\n The Company Has a Strategic Plan to Create Shareholder Value\r\n The Company has created a strategic plan to create sharehold...