On August 16, 2018, the Board of McorpCX, Inc. approved the transfer of the assets and liabilities related to the company's consulting business (excluding the underlying technology and databases related thereto, which remained with the company) to its wholly-owned subsidiary, McorpCX, LLC. In connection with this corporate reorganization, Mr. Hinshaw has resigned as the company's President and Chief Executive Officer in order to devote his full-time energies to the company's consulting business as President of McorpCX, LLC. However, Mr. Hinshaw will remain as Chairman of the Board, which the Board believes will allow him to continue to provide CX thought leadership for the entire company.

The Board has appointed the company's current Chief Financial Officer, Mr. Gregg Budoi to serve as the company's interim President and Chief Executive Officer. In connection with his greater role in directing the company's business, Mr. Budoi has also been appointed to serve as a director on the Board until the next annual meeting of the company's shareholders. Mr. Budoi has been the Chief Financial Officer of the company since September 26, 2017, and prior to assuming that role with the company.

As interim President and Chief Executive Officer, Mr. Budoi is expected to focus on developing various potential strategies to improve the Company's ability to achieve additional revenue and profit growth.