On January 30, 2015, Marvin P. Loeb, notified Trimedyne, Inc. of his decision to resign from offices of CEO and Chairman and the Board of Directors of the company, effective immediately. Further, Glenn D. Yeik, current President, COO and Director of the company, was elected to the additional office of Chairman, effective immediately and is the acting Principal Executive Officer. Further, one additional director was appointed to the company's Board of Directors on January 30, 2015, effective immediately.

Alan E. Loeb, is the sole Trustee of the four Trusts established by Dr. Loeb, which together constitute the company's principal stockholder.