Paragon Technologies News Release

Rhea-AI Summary

Paragon Technologies (OTC PINK:PGNT) announces the appointment of Leticia 'Tish' Cardonick as its new Chief Financial Officer, effective August 31, 2021. Cardonick brings over 20 years of experience in investment management and has held key positions at Morgan Stanley and Goldman Sachs. She succeeds Deb Mertz, who is retiring after a seven-year tenure. CEO Hesham Gad expressed confidence in Cardonick's abilities to drive the company's financial strategies moving forward. Paragon Technologies engages in diverse business activities, including material handling and real estate.

Positive

• Appointment of Leticia Cardonick as new CFO expected to enhance financial strategy.
• CFO has over 20 years of executive experience from top financial institutions.

Negative

• Retirement of Deb Mertz may create transitional risks in financial management.

EASTON, PA / ACCESSWIRE / July 20, 2021 / Paragon Technologies, Inc. (OTC PINK:PGNT), is pleased to announce that Leticia (‘Tish') Cardonick has joined Paragon Technologies and has been appointed as the Company's new Chief Financial Officer. Last year, Deb Mertz, the Chief Financial Officer of PGNT and SI, notified the Company of her intention to retire from her positions with the Company and its subsidiaries effective August 31, 2021. Ms. Cardonick joined the Company on July 20, 2021, and has been appointed as CFO as of August 31, 2021.

"It is with bittersweet excitement that I welcome Tish and say goodbye to Deb at Paragon," commented Hesham (‘Sham') Gad, Chairman and Chief Executive Officer of Paragon. "Deb has served Paragon with the utmost integrity and commitment during her seven-year tenure and has played an important role in the growth of Paragon during that time. She has been and will always be an important part of the Paragon culture."

Mr. Gad continues, "I am very much looking forward to next chapter of Paragon's development with Tish as Paragon's CFO and my partner. Tish possesses the key ingredients Paragon was after with her intelligence, energy, and integrity. Her deep financial experience working with some the world's most respected financial institutions in complex areas make her a great fit for Paragon both as a financial executive and a process driven operational executive."

About Leticia Davis Cardonick

Leticia D. Cardonick has over 20 years of executive experience in investment management accounting and operations. From March 2017 to July 2021, Mrs. Cardonick served as Vice President of Strategic Transformation and Alternative Investment Services for Morgan Stanley (MS) where she was responsible for finding efficiencies in structural and operational procedures, and for managing a team of accountants responsible for private equity, hedge fund, and complex product transactions and cash management. From August 2008 through March 2017, Mrs. Cardonick held a variety of roles, including being a sole proprietor conducting hedge fund operational and investment due diligence for hedge fund of fund clients, working as an adjunct professor teaching finance courses to undergraduate and graduate students at the University of Scranton (2013 to 2015), and stepping in as the interim CFO for the Jewish Community Center of Scranton (2016).

From June 2007 to August 2008, Mrs. Cardonick was the Vice President in charge of setting up the operational support model for the Quantitative and Structured Solutions investment team at Morgan Stanley (MS). From June 2005 to June 2007, Mrs. Cardonick managed the outsourcing of operations for Goldman Sachs' (GS) hedge fund of fund business. From June 2003 to June 2005, Mrs. Cardonick was a Senior Accountant managing the fund accountants for Caxton Associates LP. Mrs. Cardonick earned a Bachelors of Science in Finance from West Chester University in Pennsylvania in 1997, and a Master of Business Administration from Rutgers, the State University of New Jersey in 2005.

About Paragon Technologies

Paragon Technologies, Inc. and its subsidiaries engage in diverse business activities including material handling, distribution, real estate and investments.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements concern the Company's operations, financial condition and performance and are based largely on the Company's beliefs and expectations. These statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others, those related to: general economic conditions, including those in the markets in which the Company operates; the Company's ability to expand its revenue streams; technological changes in the Company's industry; the continued acceptance of the Company's distribution channel by vendors and customers; decreased demand for the Company's products and services and the Company's ability to retain or replace its significant customers; factors affecting the capital markets and share prices generally; economic and political risks of selling products in foreign countries, including risks of non-compliance with U.S. and foreign laws and regulations; cybersecurity risks and risks of damage and interruptions of information technology systems; and the Company's ability to complete acquisitions, strategic investments, divestitures, mergers or other transactions on acceptable terms or at all. New risk factors emerge from time to time, and it is not possible for management to predict all such risk factors, nor can management assess the impact of all such factors on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. All statements in this press release other than statements that are purely historical are forward-looking statements. The Company does not intend and assumes no obligation, to update any forward-looking statements made in this press release. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release.

For further information, contact the company at info@pgntgroup.com.

SOURCE: Paragon Technologies Inc.

View source version on accesswire.com:
https://www.accesswire.com/656383/Paragon-Technologies-News-Release

FAQ

Who is the new CFO of Paragon Technologies?

Leticia 'Tish' Cardonick has been appointed as the new CFO of Paragon Technologies.

When did Leticia Cardonick join Paragon Technologies?

Leticia Cardonick joined Paragon Technologies on July 20, 2021.

What is the significance of Deb Mertz's retirement for PGNT?

Deb Mertz's retirement may pose transitional risks as she has served as CFO for seven years.

What experience does the new CFO bring to Paragon Technologies?

The new CFO, Leticia Cardonick, has over 20 years of experience in investment management and previously held roles at Morgan Stanley and Goldman Sachs.

What is Paragon Technologies involved in?

Paragon Technologies engages in various business activities, including material handling, distribution, real estate, and investments.