Payment Data Systems (PYDS) Appoints New CEO

August 8, 2016 8:16 AM EDT

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Payment Data Systems, Inc. (Nasdaq: PYDS) announced that its Board of Directors has named Louis Hoch CEO. Mr. Hoch will continue his role as President and Vice-Chairman of the Board of Directors and Michael Long will continue his role as Chairman of the Board.

“This is an exciting time to be in the payments space and we have built a powerful platform with loyal customers who appreciate the high level of service we provide,” said Michael Long, Chairman of the Board, Payment Data Systems, Inc. “Louis and I have worked closely for many years; and the Board and I are looking forward to working with him to shape the Company’s growth strategies and create value for our shareholders.”

“We are indeed excited about our opportunities for growth and how we’ve positioned our Company for leadership in our markets,” said Louis Hoch, President and CEO, Payment Data Systems, Inc. “I am looking forward to leading the Company as we execute our growth strategies, continue to drive innovation and improve productivity.”

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