Safe & Green Holdings Corp. Board Decides Not to Renew CEO’s Employment Agreement

On October 22, 2024, Safe & Green Holdings Corp. (NASDAQ:SGBX) made a significant announcement regarding the departure of its Chief Executive Officer (CEO), Paul Galvin. In a recent 8-K filing with the Securities and Exchange Commission, the company’s Board of Directors decided not to renew the Executive Employment Agreement dated January 1, 2017, between the company and Mr. Galvin.

Following this decision, the Board delivered a written notice of termination to Mr. Galvin on October 24, 2024, in accordance with the terms outlined in the Employment Agreement. As a result, Mr. Galvin’s employment as the Chief Executive Officer of Safe & Green Holdings Corp. will officially conclude at the close of business on December 31, 2024.

Despite the conclusion of his role as CEO, Mr. Galvin is anticipated to continue serving as the Chairman of the company’s Board of Directors. Safe & Green Holdings Corp.’s Board of Directors has initiated a thorough search process to identify a suitable successor to Mr. Galvin.

In compliance with regulatory requirements, the company’s Chief Financial Officer, Patricia Kaelin, signed the report on behalf of Safe & Green Holdings Corp. on October 28, 2024.

The transition in executive leadership at Safe & Green Holdings Corp. reflects the company’s commitment to ensuring a smooth and effective change in its top leadership position, laying the foundation for continued growth and success in the future.

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This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Safe & Green’s 8K filing here.

About Safe & Green

Safe & Green Holdings Corp. designs and modifies code-engineered cargo shipping containers and purpose-built modules for commercial, industrial, and residential building construction in the United States. It redesigns, repurposes, and convert heavy-gauge steel cargo shipping containers into Safe & Green, which are green building blocks for construction.