Safe Harbor Financial CEO Stepping Down

Sundie Seefried is planning to retire in 30 days but will remain as a board member. The company is commencing a CEO succession initiative.


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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 Mendez, Appointed Co-CEO; Will Become CEO Upon Retirement of Seefried 

[PRESS RELEASE] – GOLDEN, Colo., Jan. 29, 2025  – SHF Holdings Inc., d/b/a Safe Harbor Financial, a fintech leader in facilitating financial services and credit facilities to the regulated cannabis industry, announced that its current CEO, Sundie Seefried, plans to retire in 30 days.

Karl A. Racine, chair of 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.

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,” Seefried said. “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,” Mendez said. “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. I look forward to diving into the business, learning from Sundie and partnering with my fellow operators to deliver value for our shareholders.”

Mendez brings extensive experience in strategic planning and operational transformation within the information technology and cannabis industries. In his role as founder of Amos Advisory Solutions, Mendez served as the CEO of both single-state and multistate cannabis operators successfully leading turnaround efforts.

Mendez began his career in public accounting with Arthur Andersen and Deloitte & Touche. Previously, he served as the vice president of Finance and global chief accounting officer for Hitachi Vantara, a subsidiary of Hitachi, overseeing 52 countries.    

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