Chrome Holding Co. (ME) confirms CEO role, adjusts pay during Chapter 11

Rhea-AI Filing Summary

Chrome Holding Co., formerly known as 23andMe Holding Co., describes a leadership and compensation update while it remains in Chapter 11 bankruptcy proceedings. The company previously sold substantially all of its assets to 23andMe Research Institute under an Asset Purchase Agreement, and that nonprofit has now appointed Chrome’s interim leader, Joseph Selsavage, as its Chief Financial Officer.

During a defined transition period starting August 21, 2025, Selsavage will serve in a dual role as Chief Executive Officer and Chief Financial and Accounting Officer of Chrome Holding Co. and as Chief Financial Officer of the Research Institute. For his work at Chrome during this time, he will receive 75% of his current annual base salary rate of $600,000. The board’s Special Committee also removed the “Interim” designation from his title, formally naming him Chief Executive Officer and Chief Financial and Accounting Officer.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 21, 2025

Chrome Holding Co.

(Exact name of registrant as specified in its charter)

Delaware		001-39587		87-1240344
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

870 Market Street, Room 415

San Francisco, California 94102

(Address of principal executive offices, including zip code)

Registrant’s telephone number, including area code: (650) 938-6300

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading
Symbol(s) Name of each exchange
on which registered

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

As previously disclosed, on March 23, 2025, Chrome Holding Co. (formerly known as 23andMe Holding Co.), a Delaware corporation (the “Company”), and certain of its subsidiaries (together with the Company, the “Debtors”) filed voluntary petitions seeking relief under Chapter 11 of Title 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Eastern District of Missouri (the “Court”).

As previously disclosed, on July 14, 2025, the Company and 23andMe Research Institute (formerly known as TTAM Research Institute), a California nonprofit public benefit corporation (“Research Institute”), consummated the transactions contemplated by that certain Asset Purchase Agreement, by and among the Debtors and Research Institute, dated as of June 13, 2025, whereby Research Institute acquired substantially all of the Debtors’ assets (the “Transaction”). Following the consummation of the Transaction, effective August 16, 2025, Research Institute appointed Joseph Selsavage, the Company’s Interim Chief Executive Officer and Chief Financial and Accounting Officer (the “CEO/CFAO”), as its Chief Financial Officer. Mr. Selsavage will continue to serve as the Company’s CEO/CFAO while serving as Research Institute’s Chief Financial Officer (the “Dual Service”) until the effective date of a Court-approved Chapter 11 plan or such later date as may be agreed among the Company and Mr. Selsavage (the “End Date”).

On August 21, 2025 (the “Effective Date” and, the period beginning on the Effective Date and ending on the End Date, the “Transition Period”), the Special Committee (the “Committee”) of the Board of Directors of the Company approved certain changes to Mr. Selsavage’s compensation in connection with the Dual Service. Specifically, during the Transition Period, Mr. Selsavage will be entitled to receive 75% of his current annual base salary rate of $600,000 for his service as the CEO/CFAO of the Company. On the Effective Date, the Committee also approved changing Mr. Selsavage’s title from “Interim Chief Executive Officer and Chief Financial and Accounting Officer” to “Chief Executive Officer and Chief Financial and Accounting Officer.”

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

				CHROME HOLDING CO.
Date: August 22, 2025				By:		/s/ Joseph Selsavage
				Name:		Joseph Selsavage
				Title:		Chief Executive Officer and Chief Financial and Accounting Officer

FAQ

What executive leadership change did Chrome Holding Co. (ME) disclose?

Chrome Holding Co. reported that Joseph Selsavage’s title was changed from Interim Chief Executive Officer and Chief Financial and Accounting Officer to Chief Executive Officer and Chief Financial and Accounting Officer, formally confirming him in the role.

How is Joseph Selsavage’s compensation changing at Chrome Holding Co. (ME)?

During the transition period beginning August 21, 2025, Joseph Selsavage will receive 75% of his current annual base salary rate of $600,000 for his service as Chief Executive Officer and Chief Financial and Accounting Officer of Chrome Holding Co.

What is the dual role being performed by Chrome Holding Co.’s CEO/CFAO?

Joseph Selsavage is serving in a dual role during the transition period: he remains Chief Executive Officer and Chief Financial and Accounting Officer of Chrome Holding Co. and also serves as Chief Financial Officer of 23andMe Research Institute, which acquired substantially all of the Debtors’ assets.

How does the Chapter 11 process relate to Chrome Holding Co.’s leadership arrangement?

Chrome Holding Co. and certain subsidiaries previously filed for Chapter 11 bankruptcy. Selsavage’s dual service and revised compensation are set to continue until the effective date of a Court-approved Chapter 11 plan or a later agreed date.

What transaction preceded the leadership changes at Chrome Holding Co. (ME)?

Before these leadership changes, the Debtors completed a transaction on July 14, 2025 in which 23andMe Research Institute acquired substantially all of the Debtors’ assets under an Asset Purchase Agreement dated June 13, 2025.

Who approved the changes to Joseph Selsavage’s compensation at Chrome Holding Co.?

The Special Committee of the Board of Directors of Chrome Holding Co. approved the compensation changes and title update for Joseph Selsavage in connection with his dual service.