Postal AG真人官方ty Trust, Inc. Announces Chief Financial Officer Transition
- Jeremy Garber has previous experience as Principal Financial Officer and was instrumental in preparing the company for public markets
- Robert Klein will stay on initially as employee then consultant to ensure smooth transition
- Company maintains strong balance sheet and valued credit partners
- Klein will remain through Q2 2025 financial reporting
- Loss of experienced CFO who built robust financial reporting processes
- Potential disruption in financial leadership during transition period
- Need to conduct search and onboard new permanent CFO
Jeremy Garber Will Serve As Interim Chief Financial Officer
CEDARHURST, N.Y., June 18, 2025 (GLOBE NEWSWIRE) -- Postal AG真人官方ty Trust, Inc. (NYSE: PSTL) (the 鈥淐ompany鈥�), an internally managed real estate investment trust that owns and manages over 2,150 properties leased primarily to the United States Postal Service (the 鈥淯SPS鈥�), ranging from last-mile post offices to industrial facilities, announced today that Robert Klein has notified the Company of his intention to resign as Chief Financial Officer in order to accept a position with a privately-held real estate company. Jeremy Garber, the Company鈥檚 President, Treasurer and Secretary will serve as the Company鈥檚 interim Chief Financial Officer while the Company conducts a search process for a permanent successor. Mr. Klein will initially continue as an employee of the Company and subsequently work as a consultant to the Company working closely with Mr. Garber and the Company leadership team to ensure a smooth transition of Chief Financial Officer responsibilities.
Mr. Garber has been with the Company since its founding and was instrumental in preparing the company for the public markets. Prior to Mr. Klein鈥檚 hiring in 2021, Mr. Garber served as the Principal Financial Officer of the Company and his responsibilities included oversight of the Company鈥檚 accounting and finance department.
"On behalf of the Board of Directors and the entire Company, I want to thank Rob for his contributions during his tenure including his role in building a high performing accounting and finance team, developing robust financial reporting processes and positioning us with a strong balance sheet and valued credit partners. We wish him well personally," commented Andrew Spodek, Chief Executive Officer of the Company.
In conjunction with Mr. Klein鈥檚 transition, the Company and Mr. Klein have entered into a Transition Agreement during which Mr. Klein will be fully engaged with the Company鈥檚 second quarter close, earnings announcement and the signing and filing of our quarterly financial report on Form 10-Q for the period ending June 30, 2025.
Mr. Klein commented, 鈥淚 am proud of what we have accomplished during my time with Postal, and I thank Andrew and the entire Postal AG真人官方ty team for the opportunity to serve as CFO over the past four and a half years. Postal AG真人官方ty has a deep and talented accounting, finance, and investor relations team. I鈥檓 grateful to have worked alongside each of them to help put the Company in a strong financial position and I am committed to ensuring a smooth transition.鈥�
Forward-Looking and Cautionary Statements
This press release contains 鈥渇orward-looking statements.鈥� Forward-looking statements include statements identified by words such as 鈥渃ould,鈥� 鈥渕ay,鈥� 鈥渕ight,鈥� 鈥渨ill,鈥� 鈥渓ikely,鈥� 鈥渁nticipates,鈥� 鈥渋ntends,鈥� 鈥減lans,鈥� 鈥渟eeks,鈥� 鈥渂elieves,鈥� 鈥渆stimates,鈥� 鈥渆xpects,鈥� 鈥渃ontinues,鈥� 鈥減rojects鈥� and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements, including, among others, statements regarding the Company鈥檚 management changes are based on the Company鈥檚 beliefs, assumptions and expectations of its future financial and operating plans, taking into account the information currently available to the Company. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, the Company鈥檚 actual results may differ materially from those contemplated by the forward-looking statements. Information about potential risks and uncertainties that could affect the Company鈥檚 business and financial results is set forth under 鈥淩isk Factors鈥� in the Company鈥檚 filings with the Securities and Exchange Commission. Any forward-looking statement made in this press release speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
About Postal AG真人官方ty Trust, Inc.
Postal AG真人官方ty Trust, Inc. is an internally managed real estate investment trust that owns and manages over 2,150 properties leased primarily to the USPS. More information is available at postalrealtytrust.com.
Contact:
Investor Relations and Media Relations
Email:
Phone: (516) 232-8900
FAQ
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