CLEVELAND, Feb. 24, 2016 /PRNewswire/ -- On Tuesday, February 23, DATATRAK's board of directors unanimously voted to appoint James R. Ward or Jim Bob Ward to the position of Interim CEO and President to fill the vacancy and such appointment shall be effective as of the termination of the former chief executive on February 24, 2016. Mr. Ward has agreed to receive only $1/month of cash compensation for the time being and the board will negotiate and approve an employment agreement with him in due course. The company and other parties continue to negotiate with the former Chairman, CEO and President to resolve outstanding and potential litigation with the goal of reaching a settlement to conclude all legal issues relating to DATATRAK's recent leadership change. The board is pleased that Mr. Ward is showing his dedication and commitment to the company by stepping up to this role and demonstrating incredible generosity with his time and compensation.
Mr. Ward looks forward to working with our senior management team and our loyal clients to enhance our existing relationships and build new relationships with prospective clients. Mr. Ward was the founder and CEO of ClickFind, which was acquired by DATATRAK and is a key component of DATATRAK's underlying technology. "We want to listen to our current and prospective customers and hear what problems you have for us to solve. Our focus is on solving problems for our customers by listening to you and focusing on providing the best solutions," said Mr. Ward who is enthusiastic about showing the market place the new leadership at DATATRAK.
Chairman of the board, Alex Tabatabai, added, "We are eager to have Jim Bob hit the ground running and listen to our customers in order to provide them the very best solutions. The market place will greatly appreciate the customer focused attitude of DATATRAK's new leadership. Jim Bob is already off to a wonderful and collaborative working relationship with our senior management including our CFO, Jennifer Mabe, VP Legal, Varnesh Sritharan, VP of Operations, Tim Lyons, and VP of Sales, Scott DeMell, and our entire employee group that has had a chance to work with Jim Bob. DATATRAK's new leadership group has a very long-term commitment to building and growing a company that will provide high quality solutions for the health sciences industry."
We welcome our current customers to contact us and speak to Jim Bob, along with prospective customers who seek better solutions for their clinical trials. Those who have already are very impressed with Jim Bob and our leadership team. It's a new day at DATATRAK.
DATATRAK International is a worldwide technology and services company delivering Unified dClinical™ solutions and related services for the clinical trials industry. DATATRAK offers a comprehensive solution on a single, unified platform. The Company delivers a complete portfolio of software products designed to accelerate the collection, analysis and submission of clinical trials. The DATATRAK ONE® software solution, deployed worldwide supports Phase I – Phase IV drug and device studies in multiple languages throughout the world. For more information, visit http://www.datatrak.com.
Except for the historical information contained in this press release, the statements made in this release are forward-looking statements. These forward-looking statements are made based on management's expectations, assumptions, estimates and current beliefs concerning the operations, future results and prospects of the Company and are subject to uncertainties and factors which are difficult to predict and, in many instances, are beyond the control of the Company, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. For a list of certain factors that may cause actual results to differ materially from those contemplated in these forward looking statements, please see the Company's report filed with the OTCQX Market on March 13, 2015 announcing its results for the full year period ended December 31, 2014. The Company undertakes no obligation to update publicly or revise any forward-looking statement whether as a result of new information, future events or otherwise.
SOURCE DATATRAK International, Inc.