cbdMD, Inc. announced the resignation of Scott Coffman as President with the Company effective May 16, 2022. On the Effective Date, the Company entered into an Executive Employment Agreement with Kevin MacDermott pursuant to which Mr. MacDermott was hired to serve as the Company's President. Mr. MacDermott, 60, served as advisor, chief strategy officer and executive vice president of business development for Convergence Acceleration Solutions, LLC (CAS Group), a Georgia based consulting company, primarily serving the telecommunications, cable and media sectors, from March 2020 through May 2022.

From October 2014 through March 2020 he served as chief operating officer of ANC, Inc., a North American multi-level marketing company based in North Carolina, which provides telecommunications, energy, merchant and other services.