Business
Safe Harbor Financial Commences CEO Succession and Strategic Planning Initiative
Sundie Seefried to Immediately Become Co-CEO and Retire in 30 Days; Will Remain on Board of Directors Post-Transition Business Transformation Expert, Terry
About this update from Shf Holdings, Inc.
[{"type":"text","content":"Sundie Seefried to Immediately Become Co-CEO and Retire in 30 Days; Will Remain on Board of Directors Post-Transition Business Transformation Expert, Terry Mendez, Appointed Co-CEO; Will Become CEO Upon Retirement of Seefried GOLDEN, Colo., Jan. 29, 2025 (GLOBE NEWSWIRE) -- SHF Holdings, Inc., d/b/a Safe Harbor Financial (“Safe Harbor” or the “Company”) (NASDAQ: SHFS), a fintech leader in facilitating financial services and credit facilities to the regulated cannabis industry, announced today that its current CEO, Sundie Seefried, plans to retire in 30 days. Karl A. Racine, chair of the Safe Harbor’s Nominating and Governance Committee, has been overseeing due diligence activities and advising the executive team and the Governance Committee to evaluate both internal and external candidates as part of the process. This strategic approach and review are part of the Company’s long-term growth strategy, ensuring that Safe Harbor continues to maximize shareholder value and executes its strategic vision. Sundie Seefried will serve as co-CEO throughout this transition period. The Company signed a three-year executive employment agreement with Terry Mendez to serve as co-CEO and will be appointed CEO upon Seefried’s retirement. Post-transition, Seefried will remain on the Board of Directors. During the transition, Mendez will work closely with Safe Harbor’s leadership team and Board of Directors to capture opportunities for innovation and growth, while Seefried will focus on achieving operational continuity. Seefried and Mendez will be the key decision-makers, ensuring that all strategic recommendations are evaluated and presented to the Board, as needed, for approval. “We remain committed to thoughtful succession planning and long-term strategic growth, with the goal of capitalizing on optimizing our market position,” said Sundie Seefried, co-CEO of Safe Harbor Financial. “Terry’s experience in business expansion, transformation and strategic advisory will provide a valuable perspective as we explore ways to enhance our operations and maximize shareholder value. I look forward to working closely with him.” “At a time when most financial institutions were unwilling to work with the cannabis industry, Safe Harbor emerged as a pioneer, providing essential banking and financial services to the sector for the past decade. We are now looking...