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Ram Power Corp To Cut Jobs; Announces Board Changes-Reuters


Monday, 28 Jan 2013 01:54pm EST 

Reuters reported that Ram Power Corp said it will cut 12 out of 19 jobs at its headquarters in Nevada and that its Chief Executive Officer will quit as part of its plans to cut costs and shift focus to its operations in Nicaragua. This (the job cuts and plans for Geyser) is all part of the strategic reorganization the board has set up here, including my resignation, Chief Executive Shuman Moore, whose resignation will be effective February 15, told Reuters. Ram Power, which had 192 employees and has been led by Moore, said it will not renew Chief Financial Officer Selby Little's contract after it expires on March 31. The Company will not seek Moore's and Little's replacements and will be led by Executive Chairman Antony Mitchell, company spokesman Steven Scott told Reuters. 

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