Harbor Custom Development, Inc. announced that Sterling Griffin, President and Chairman of the Board of Directors, will be retiring from all roles with the Company effective July 12, 2023. Mr. Griffin will serve as a non-executive strategic advisor through January 12, 2025. Jeff Habersetzer, who serves as Harbor's Chief Operating Officer, General Counsel and Corporate Secretary, is expected to be named Interim President effective July 12, 2023.

Mr. Habersetzer brings an extensive background in the real estate industry and previously owned a legal practice specializing in real estate and corporate law. In connection with the transition, the Company expects to appoint Lance Brown, Harbor's Chief Financial Officer, to an expanded role as Interim Chief Operating Officer. Mr. Brown will maintain his current role as Chief Financial Officer and facilitate a smooth transition and continuity of operational leadership.