Sundie Seefried, CEO of Safe Harbor cannabis financial services firm, is retiring

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Business transformation expert Terry Mendez will become CEO of Safe Harbor Financial after Sundie Seefried retires from the cannabis financial services company in the next 30 days.

Seefried and Mendez will serve as co-CEOs of the Golden, Colorado-based firm during the transition, according to a Wednesday news release.

After the transition, Seefried will continue to serve on Safe Harbor’s board of directors.

“We remain committed to thoughtful succession planning and long-term strategic growth, with the goal of capitalizing on optimizing our market position,” Seefried said in a statement.

“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.”

Seefried got cannabis start in 2014

Seefried entered the cannabis space in 2014 as the CEO of Partner Colorado Credit Union.

It was through the credit union that she launched Safe Harbor Financial to serve new marijuana companies in the Colorado market.

Then, on April 20, 2016, Seefried published a book titled, “Navigating Safe Harbor: Cannabis Banking in a Time of Uncertainty.”

The book became a path for safe and successful marijuana banking and established Seefried as a pioneer in the cannabis industry.

In 2022, Seefried spun off Safe Harbor into a separate business entity and took the company public on the Nasdaq stock exchange (SHFS).

The company was renamed SHFS Holdings, but it does business as Safe Harbor Financial.

Mendez has experience in finance and marijuana

Mendez, meanwhile, founded Amos Advisory Solutions in 2016 in the Denver suburb of Centennial, according to the release.

He began his career in public accounting at Arthur Andersen and Deloitte & Touch before eventually serving as CEO of both single-state and multistate marijuana operators.

While noting that Safe Harbor was a financial services pioneer for the cannabis space, he said in a statement that the business is “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,” he added.