October 12, 2011 / 10:05 PM / in 7 years

UPDATE 1-USA Technologies suspends CEO

* Suspends George Jensen pending probe into Internet posts

* Names COO Stephen Herbert interim CEO

* Says Jensen’s actions do not impact past financial results

Oct 12 (Reuters) - USA Technologies Inc said it suspended Chief Executive George Jensen pending an investigation into certain posts regarding the company that he made on an Internet message board.

On Oct. 5 the company, which provides point of sale terminals used for retail transactions, appointed Chief Operating Officer Stephen Herbert as interim CEO, USA Technologies said in a regulatory filing on Wednesday.

Jensen, who has served as CEO for USA Technologies since January 1992, will resign his positions as chairman, CEO and board member in the near future, the company said.

Jensen’s actions do not impact historical financial results and audited financial statements of company, USA Technologies said.

USA Technologies shares closed at $1.42 on Wednesday on Nasdaq.

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