US Dataworks Announces Passing of CEO, Appointment of Interim CEO
SUGAR LAND, Texas, March 17, 2014 /PRNewswire/ -- It is with a collective heavy heart that US Dataworks, Inc. (OTC PinkSheets: UDWK), a leader in payment processing solutions, today announced the passing of its long-time Chairman and CEO, Charles E. Ramey, who died yesterday morning after suffering a severe heart attack from which he was unable to recover. The Company also announced that its Board of Directors has appointed John Penrod as its interim Chief Executive Officer. Mr. Penrod will continue in his role as the Company's VP of Operations in addition to his new CEO duties. Joseph Saporito, an outside director of the Company, will take over the Chairman role with the Board seat left vacant by Mr. Ramey's death to remain unfilled for the time being.
Mr. Saporito commented "Chuck was an outstanding leader who worked tirelessly for the benefit of all stakeholders of the Company. He will be greatly missed. Our thoughts and prayers are with Chuck's family during this difficult time." Mr. Saporito added, "While we grieve for our loss, both professional and personal, the Board and the management team remain focused on the day-to-day tasks at hand and on continuing to execute on our long term business plan. The Board has the utmost confidence in John to lead the Company through this transitional period."
About US Dataworks
US Dataworks is a leading innovator in payment processing technology. Our Clearingworks platform is a highly-scalable, open and cloud-optimized payment-processing platform, capable of handling all forms of payments. The Clearingworks platform is trusted to process billions of dollars in payments each day for banks, businesses and government agencies. Additional information about US Dataworks is available at www.usdataworks.com.
SOURCE US Dataworks, Inc.