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August 23, 2023

Acton drug testing company brings in new CEO

PHOTO | Courtesy of Google Maps Psychemedics offices in Acton

Psychemedics in Acton, a hair testing for drug abuse firm, has changed leaders. Brian Hullinger officially became president and CEO on Thursday, following the retirement of longtime leader Ray Kubacki.

Hullinger was previously chief revenue officer at Cisive, a New York-based drug testing company, according to his LinkedIn profile.

“Brian brings a wealth of strategic executive leadership experience that has resulted in exceptional company growth, client retention, and enhanced stakeholder value for both public and private companies,” Drew Reynolds, Psychemedics board member and chairman of the compensation committee, said in a July press release.

Kubacki is remaining in an advisory role as part of the transition, according to the press release. He held the role of president and CEO since 1991 and in 2003 became chairman of the board.

Hullinger also joined the board of directors. He will receive a base salary of $375,000, an annual bonus of $190,000, and a $25,000 signing bonus, according to a Psychemedics filing with the U.S. Securities & Exchange Commission. Upon hiring, Hullinger received an option to purchase up to 300,000 shares of Psychemedics common stock at a price of $4.64 per share, according to a Friday press release from the company. That would total $1.4 million.

In 2021, Kubacki’s base salary was $430,702, according to an SEC filing.

Hullinger earned his bachelor’s degree from Indiana University Northwest in Gary, Indiana.

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