Harbor Custom Development Inc.
05/12/2023 | Press release | Distributed by Public on 05/12/2023 09:19
Tacoma-based Harbor Custom Development shuffles top execs amid tough economic times
By Debbie Cockrell
May 12, 2023
Harbor Custom Development founder and CEO Sterling Griffin is set to retire from the company in July. After that, he will serve as a non-executive strategic advisor through January 12, 2025, according to the company. Harbor Custom Development.
Tacoma-based Harbor Custom Development on Thursday announced its founder and CEO Sterling Griffin is stepping down in July and other changes were ahead for top leadership positions in the company.
In a news release, Harbor said that Griffin, also the company's president and chairman of its Board of Directors, "will be retiring from all roles with the company effective July 12."
It added that Griffin "will serve as a non-executive strategic advisor through January 12, 2025."
Harbor's chief operating officer, general counsel and corporate secretary Jeff Habersetzer, is expected to be named interim CEO and interim president, to start upon Griffin's departure, according to the release. Habersetzer "brings an extensive background in the real estate industry and previously owned a legal practice specializing in real estate and corporate law," the release added.
Jeff Habersetzer is set to become interim CEO and Interim president at Harbor Custom Development in Tacoma as of July 12, according to an announcement from the company this week. Harbor Custom Development Griffin on Thursday thanked everyone who'd been connected to the company. "I am confident in the direction and future of the company under Jeff's leadership," he said in the release.
Karen Bryant, lead independent director with Harbor, said in the release, "The Board appreciates Sterling's vision in the development of Harbor since its inception. He has been instrumental in driving our vision, strategy, and direction toward achieving growth. The Board is thankful for his continued support as a strategic advisor."
Harbor's chief financial officer Lance Brown is expected to move into an expanded role of interim chief operating officer along with his current role.
Griffin founded Harbor Custom Development in 2014. The company, formerly based in Gig Harbor, moved its headquarters to Tacoma last year. He told The News Tribune at that time the company's rapid growth sparked the move.
The publicly traded company last year finished Pacific Ridge, 8445 Pacific Ave. in Tacoma. It was initially developed as condominiums, later switching to apartments.