TRX Names David Cathcart President And Chief Executive Officer To Succeed Shane Hammond Cathcart's Progression Emphasizes Focus on Data Intelligence Growth Strategy
ATLANTA, Dec. 11, 2012 /PRNewswire/ -- TRX, Inc. (www.trx.com) (OTCQB: TRXI), a global leader in travel data and technology, today named Chief Financial Officer David D. Cathcart as President and Chief Executive Officer. Mr. Cathcart replaces H. Shane Hammond who, on November 15, 2012, provided notice of his intention to resign as President and Chief Executive Officer of TRX. Trip Davis remains non-executive Chairman of the Board. Mr. Hammond will remain with TRX through December 31, 2012 to assist with the transition of his responsibilities to Mr. Cathcart.
"Dave will be great as CEO. We've worked together for the past eight years, and this is the logical next step for him," said Mr. Hammond, former CEO of TRX. "Dave also inherits a formidable executive team that will continue to deliver for TRX just as they have in my four years in the CEO role."
An eight year veteran at TRX, Mr. Cathcart has held a series of leadership positions of increasing responsibility in finance, treasury, accounting, tax, client relationship management, consulting, and operations. Mr. Hammond moved Mr. Cathcart into a dual finance and data intelligence operations role eighteen months ago as a means to develop further strength in the primary growth area of the business. Mr. Cathcart joined TRX in 2004 as Controller, and prior to that time, he was a Division Controller for General Electric.
"Shane and I have worked together very closely for a number of years," said Cathcart. "We have a superb and tenured team at TRX, and we will not miss a beat when it comes to serving our clients each day. Our focus looking to 2013 is to further strengthen our industry-leading offerings for the benefit of our clients, employees, and our shareholders. I appreciate the trust placed with me by our Board, by our people, and by our clients."
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ABOUT TRX, Inc.
TRX, Inc. (OTCQB: TRXI) is a global leader in data, software and solutions, primarily in the travel industry. TRX solutions help the world's top travel agencies, governments and corporations save money and increase efficiency. TRX technology adds visibility and value to travel programs through data intelligence, process automation, outsourcing, and a host of related software and mobile solutions. For more information on TRX products and services, visit www.trx.com or call 404.929.6100.
SOURCE TRX, Inc.