Paragon Technologies Provides Update on CEO Succession Plan

Rhea-AI Summary

Paragon Technologies (OTC PINK:PGNT) announced an update to its CEO succession plan. Current Interim CEO Sam Weiser will step down from his position on June 30, 2025, following the Annual Meeting of Stockholders. The company is in the midst of a proxy contest between the current board's slate and Hesham Gad's slate. If Paragon's director slate wins, a board member will serve as Interim CEO while the company conducts a search for a permanent CEO. The company aims to have a new permanent CEO in place by October 1, 2025, and has already received interest from qualified executives. Paragon emphasized its commitment to finding an exceptional leader to drive innovation and growth.

Positive

• Several qualified executives have already expressed interest in the CEO position
• Clear timeline established for permanent CEO appointment by October 1, 2025
• Structured transition plan in place to ensure leadership continuity

Negative

• Ongoing proxy contest creates uncertainty in leadership transition
• Interim leadership arrangement may cause temporary strategic uncertainty
• Short timeline between interim and permanent CEO may impact thorough search process

EASTON, PA / ACCESS Newswire / June 12, 2025 / Paragon Technologies, Inc. (OTC PINK:PGNT), a diversified holding company, today provided an update on its CEO succession plan. As previously disclosed, Interim CEO, Sam Weiser will not seek re-election at the upcoming Annual Meeting of Stockholders on June 30, 2025, and will cease his role as Interim CEO on that date.

If Paragon's director slate prevails over Hesham "Sham" Gad's slate in the proxy contest at the Annual Meeting, the newly constituted board will meet and it is expected that one of the board members on Paragon's slate will serve as Interim CEO after the Annual Meeting. The Board will promptly commence a CEO search to identify the next CEO with the goal of having a permanent CEO in place by October 1, 2025. We have already had some very qualified executives reach out and express interest. The Company is committed to conducting a thorough and comprehensive search process to identify an exceptional leader who will drive Paragon Technologies' continued innovation and growth.

About Paragon Technologies

Paragon Technologies, Inc. is a holding company owning subsidiaries that engage in diverse business activities, including material handling, distribution, real estate, and investments. For additional information please visit: www.pgntgroup.com.

Investor Relations Contact:

Alliance Advisors IR
ParagonIR@allianceadvisors.com

SOURCE: Paragon Technologies Inc.

View the original press release on ACCESS Newswire

FAQ

When will Paragon Technologies (PGNT) current Interim CEO Sam Weiser step down?

Sam Weiser will step down as Interim CEO on June 30, 2025, following the Annual Meeting of Stockholders.

Who will be the next CEO of Paragon Technologies (PGNT)?

If Paragon's director slate wins the proxy contest, a board member will serve as Interim CEO while the company searches for a permanent CEO, targeting appointment by October 1, 2025.

What is the timeline for Paragon Technologies (PGNT) to appoint a permanent CEO?

Paragon Technologies aims to have a permanent CEO in place by October 1, 2025.

What is the current leadership situation at Paragon Technologies (PGNT)?

The company is in a proxy contest between the current board's slate and Hesham Gad's slate, with Interim CEO Sam Weiser stepping down on June 30, 2025.

How will Paragon Technologies (PGNT) manage the CEO transition?

If the current board's slate wins, a board member will serve as Interim CEO while the company conducts a comprehensive search for a permanent CEO.