Paragon News Release
Paragon Technologies (OTC PINK:PGNT) has announced that its Audit Committee has initiated an independent investigation into Hesham M. Gad's conduct, engaging legal counsel from Holland & Knight LLP. The company previously removed Gad from his positions as Chairman of the Board and CEO on August 9, 2024, followed by his termination as President of SI Systems, and all remaining positions within Paragon and its subsidiaries on November 4, 2024. While the Audit Committee is committed to a thorough investigation, the duration and outcome remain uncertain.
Paragon Technologies (OTC PINK:PGNT) ha annunciato che il suo Comitato Audit ha avviato un'indagine indipendente sul comportamento di Hesham M. Gad, coinvolgendo consulenze legali da Holland & Knight LLP. L'azienda ha precedentemente rimosso Gad dalle sue posizioni di Presidente del Consiglio e CEO il 9 agosto 2024, seguito dal suo licenziamento come Presidente di SI Systems e da tutte le restanti posizioni all'interno di Paragon e delle sue controllate il 4 novembre 2024. Sebbene il Comitato Audit sia impegnato in un'indagine approfondita, la durata e il risultato rimangono incerti.
Paragon Technologies (OTC PINK:PGNT) ha anunciado que su Comité de Auditoría ha iniciado una investigación independiente sobre la conducta de Hesham M. Gad, contratando abogados de Holland & Knight LLP. La empresa ya había destituido a Gad de sus cargos como Presidente del Consejo y CEO el 9 de agosto de 2024, seguido de su despido como Presidente de SI Systems y de todos los restantes cargos dentro de Paragon y sus subsidiarias el 4 de noviembre de 2024. Aunque el Comité de Auditoría está comprometido con una investigación exhaustiva, la duración y los resultados siguen siendo inciertos.
파라곤 테크놀로지스 (OTC PINK:PGNT)는 감사 위원회가 헤샴 M. 갓의 행동에 대한 독립적인 조사를 시작했으며, 홀랜드 & 나이트 LLP의 법률 자문을 받았다고 발표했습니다. 회사는 2024년 8월 9일 갓을 이사회 의장 및 CEO 직에서 해임한 후, 2024년 11월 4일 SI 시스템의 사장직과 파라곤 및 그 자회사의 모든 나머지 직위에서 해임했습니다. 감사 위원회는 철저한 조사를 진행할 것을 약속하지만, 조사 기간과 결과는 불확실합니다.
Paragon Technologies (OTC PINK:PGNT) a annoncé que son Comité d'Audit a lancé une enquête indépendante sur la conduite de Hesham M. Gad, engageant des conseillers juridiques de Holland & Knight LLP. La société avait précédemment écarté Gad de ses fonctions de Président du Conseil et de PDG le 9 août 2024, suivi de son licenciement en tant que Président de SI Systems et de toutes les autres fonctions au sein de Paragon et de ses filiales le 4 novembre 2024. Bien que le Comité d'Audit soit engagé dans une enquête approfondie, la durée et l'issue restent incertaines.
Paragon Technologies (OTC PINK:PGNT) hat angekündigt, dass der Prüfungsausschuss eine unabhängige Untersuchung des Verhaltens von Hesham M. Gad eingeleitet hat und rechtlichen Beistand von Holland & Knight LLP hinzugezogen hat. Das Unternehmen hatte Gad bereits am 9. August 2024 von seinen Positionen als Vorsitzender des Vorstands und CEO entfernt und ihn am 4. November 2024 als Präsident von SI Systems sowie von allen verbleibenden Positionen innerhalb von Paragon und seinen Tochtergesellschaften entlassen. Während der Prüfungsausschuss sich einem gründlichen Untersuchungsprozess verpflichtet fühlt, bleiben sowohl die Dauer als auch das Ergebnis ungewiss.
- None.
- Ongoing audit investigation into former CEO's conduct indicates potential governance issues
- Multiple executive removals and terminations suggest internal instability
- Legal investigation may result in additional costs and management distraction
Paragon Technologies Announces Audit Committee Investigation of Hesham Gad
EASTON, PA / ACCESSWIRE / December 5, 2024 / Paragon Technologies, Inc. (OTC PINK:PGNT), a diversified holding company, announced today that the Audit Committee of the Board of Directors has engaged legal counsel from Holland & Knight LLP to conduct an independent investigation into the conduct of Hesham M. Gad. The Board of Directors previously replaced Mr. Gad as Chairman of the Board and Chief Executive Officer of Paragon on August 9, 2024, and on November 4, 2024, the Board terminated Mr. Gad as President of SI Systems, LLC and from any and all remaining positions he held with Paragon and its subsidiaries.
The Audit Committee is committed to conducting a prompt, expeditious, and thorough independent investigation, but it is unable to predict the duration or outcome of its investigation. The Company will provide further information from the Audit Committee's investigation at the appropriate time.
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 accesswire.com
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