Psychemedics Corporation announced that on July 12, 2023 Raymond C. Kubacki, the Company’s Chairman, Chief Executive Officer and President notified the Company that he will retire as Chairman Chief Executive Officer and President effective August 17, 2023 coincident with the Annual Meeting of Stockholders on such date. On July 12, 2023, Fred J. Weinert, a director of the Company, notified the Company that he will retire as a director effective August 17, 2023 coincident with the Annual Meeting of Stockholders on such date. On July 12, 2023, William Norris, the Company’s Controller, resigned from such position, and otherwise as an officer of the Company, effective July 21, 2023 to take a position with a home healthcare technology company.

On July 12, 2023, the Company announced Brian Hullinger as the new President and Chief Executive Officer of the Company, to take effect on August 17, 2023. He has also been nominated to be elected as a director of the Company at the Annual Meeting of Stockholders to be held on August 17, 2023. Mr. Hullinger has served in a variety of sales and executive leadership roles over the past 30 years, most recently as Chief Revenue Officer of Cisive Inc., a risk assessment, administrative support and workforce solutions company, since 2018.

From 2016 to 2018, he served as CEO of E-Verifile.com Inc. which was sold to Cisive in 2018. From 2012 until 2016 Mr. Hullinger served in various leadership positions with First Advantage Corporation, an information technology company. From 1991 until 2012 he served in various revenue growth roles with Social Solutions Inc., a management software company, Norstan Communications Inc. (now doing business as BlackBox Network Services), a telecommunications equipment provider, and Automatic Data Processing Inc. On July 13, 2023, the Company appointed Michael Weisenhoff, Assistant Controller of the Company, as the Company’s principal financial and accounting manager, to take effect as of July 20, 2023.

In such capacity Mr. Weisenhoff, age 33, will be responsible for all internal and external financial reporting activities, as well as the Company’s financial analysis and planning activities. He will report directly to the CEO. Mr. Weisenhoff has 10 years of finance and accounting experience.

Most recently, he served as Accounting Manager for the Company since January, 2023. From November, 2021 until December 2022 he served as Client Service Associate – Wealth Management Operations, for Ameriprise Financial, of Middleton, Massachusetts. From October, 2018 until October, 2021, Mr. Weisenhoff served in various accounting roles at CFGI, LLC of Boston, MA, including as Accounting Consultant and Accounting Manager.

From September, 2017 until October, 2018 he served as Financial Analyst for Summit Partners LLC, of Boston, MA. Mr. Weisenhoff began his accounting career in the Audit Department at Deloitte & Touche LLP, of Boston MA. He received his Bachelor’s degree in Accouning and his MBA, with a concentration in Accounting, from Providence College.

Mr. Weisenhoff, is a Certified Public Accountant.