
Safe Harbor Financial, a fintech provider for the regulated cannabis industry, said today that its current CEO, Sundie Seefried, plans to retire in 30 days.
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. He 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 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 Seefried. “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 at the challenges currently facing the industry and determining how we can leverage our people to develop technology that delivers trusted solutions to the marketplace,” said Mendez. “I look forward to diving into the business, learning from Sundie and partnering with my fellow operators to deliver value for our shareholders.”
In his role as founder of Amos Advisory Solutions, Mendez served as the CEO of both single-state and multi-state cannabis operators leading turnaround efforts.