Safe Harbor Financial, NASDAQ: SHFS announced on Wednesday that Sundie Seefried would step down as CEO next month. Terry Mendez will be her successor.
Seefried is expected to continue in her role as CEO for 30 days before she retires. She will, however, remain a member of the company’s board.
Seefried, in a recent statement said: “We continue to be committed thoughtful succession and strategic growth over the long term.”
Mendez has joined Safe Harbor following his work as a turnaround specialist for cannabis businesses through Amos Advisory Solutions. He has held positions as Hitachi Vantara’s vice president of Finance and Global Chief Accounting Officer, overseeing operations in over 52 countries.
Mendez has signed an employment contract with the company for a period of three years. Karl A. Racine is the chairperson of Safe Harbor’s nomination and governance committee. He oversees the process for succession planning.
Mendez noted that Safe Harbor had been a leader in working with the cannabis sector at a period when many financial institutions did not want to. We are examining the current challenges facing the cannabis industry, and we’re assessing how to leverage our team to create technology that will deliver trusted solutions in the market.