Robyn C. Davis Joins Psychemedics Board of Directors

Rhea-AI Summary

Psychemedics Corporation (NASDAQ: PMD) has appointed Robyn C. Davis to its Board of Directors, following the passing of Clint Allen. Ms. Davis brings extensive experience in life sciences and strategy, having served on the boards of prominent companies like Brooks Automation and Akston Bioscience. She is a Managing Director at Angel Healthcare Investors and has advised various organizations on growth strategies. The company is a leader in drug testing, utilizing its patented hair testing method preferred by many Fortune 500 companies.

Positive

• Robyn C. Davis is expected to bring valuable experience in life sciences and corporate strategy to Psychemedics.
• Her appointment fills a key vacancy on the board and may enhance governance and strategic decision-making.

Negative

• The board vacancy followed the untimely passing of a long-time member, raising concerns about continuity and experience within the board.

ACTON, Mass., March 17, 2021 (GLOBE NEWSWIRE) -- Psychemedics Corporation (NASDAQ: PMD) announced that Robyn C. Davis was unanimously elected to serve on the Board of Directors of Psychemedics Corporation effective immediately. Ms. Davis will be filling the vacancy created by the untimely passing this past December of Clint Allen, a long- time and dedicated Psychemedics board member.

Ray Kubacki, Chairman and CEO stated “We are excited to have Robyn join our board. She brings a wealth of experience and a balanced perspective in a number of areas particularly in life sciences and strategy that will prove most helpful to Psychemedics growth as we move forward.”

Ms. Davis currently serves as a corporate Director for Brooks Automation (BRKS), a $900 million revenue global leader in robotics serving the semiconductor and life sciences markets. She has served on the Audit, Compensation and Finance committees. Additionally, Robyn serves as a Director for Akston Bioscience, an early- stage specialty pharmaceutical company that develops novel biologic therapeutics for diabetes and vaccines.

Ms, Davis is also a Managing Director of Angel Healthcare Investors where she has managed early-stage investments in medical devices, life sciences, information technology and professional services over the past 20 years.

Throughout her career, Ms. Davis has advised governments, boards, CEO’s, and senior executives on value-creation, growth strategy, cost reduction, and leadership development. She has worked as an independent advisor as well as a Consultant at Bain & Co. and a Director at Barents, LLC.

Ms. Davis holds an Executive Masters Professional Director Certification from the American College of Corporate Directors and was also recognized by Women, Inc. magazine as a “Most Influential Corporate Director” in 2019. She is a graduate of Tufts University and Harvard Business School.

Psychemedics Corporation is the world’s largest provider of hair testing for the detection of drugs of abuse. The Company’s patented process is used by thousands of U.S. and international clients, including over 10% of the Fortune 500 companies, for pre-employment and random drug testing. Major police departments, Federal Reserve Banks, schools, and other public entities also rely on our unique patented drug testing process. We strongly believe our drug testing method to be superior to any other product currently in use, including traditional urine testing and other hair testing methods. The Psychemedics web site is www.psychemedics.com.

Contact: Raymond C. Kubacki, Chairman, President and CEO
Phone: (978) 206-8220

FAQ

Who is Robyn C. Davis and what is her role at Psychemedics Corporation?

Robyn C. Davis has been elected to the Board of Directors of Psychemedics Corporation, bringing extensive experience in life sciences and corporate governance.

What impact does Robyn C. Davis's appointment have on Psychemedics Corporation?

Her expertise in strategy and life sciences may enhance the company's growth and governance.

Why was there a vacancy on the Board of Directors at Psychemedics Corporation?

The vacancy was created by the unfortunate passing of long-time board member Clint Allen last December.

What is Psychemedics Corporation known for?

Psychemedics Corporation is the largest provider of hair testing for drug detection, using a patented process relied upon by many Fortune 500 companies.

What other companies does Robyn C. Davis serve on the board of?

Robyn C. Davis serves on the boards of Brooks Automation and Akston Bioscience.