As another trading week comes along during this festive season, there are some stocks which are expected to get attention and one of those could be that of Paragon Technologies Inc (OTC: PGNT). This past Friday the company was in focus after it made an announcement with regards to key appointments. The stock climbed by 6% as a consequence.
Three New Independent Directors
The diversified holding company announced on December 20 that it added three new independent directors to the board in the form of Howard Brownstein, Tim Eriksen and David Lontini. In the news release it was noted that the appointment had been made since long serving member of the board Jack Jacobs’ retirement from the board would become effective on December 31, 2024. The appointments went into effect immediately. However, that took the number of board member to 6 from 3 and would be reduced to 5 eventually following Jacobs’ retirement.
Further Information
The company expressed its excitement at having expanded the size of its board. It was also noted that the appointments were also a demonstration of the commitment of Paragon Technologies to corporate governance and strengthening the board with personnel who had the expertise to guide a growing business. It remains to be seen if the stock gets any traction today or not.
CEO Comment
Sam Weiser, Chairman and CEO of Paragon Technologies, said, “We are excited to grow our Board of Directors and welcome David, Howard, and Tim as independent directors. These appointments demonstrate Paragon Technologies’ commitment to strengthening our corporate governance and maintaining a Board with skills that are relevant to our growing business. Their extensive experience and strategic insights bring an exceptional level of expertise with a particular focus on financial, strategic, operational execution, and business transformation. With the addition of these highly qualified individuals, we are confident in our ability to position Paragon Technologies for long-term success.”
