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."
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