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September 8, 2009 (FinancialWire) -- Deep Down, Inc. (OTCBB: DPDW | Quote | Chart | News | PowerRating) (Current Market Cap: $19.77 Mil.) said that its board has accepted the resignation of Robert E. Chamberlain, Jr. as chairman and chief acquisitions officer. Company chief financial officer Eugene L. Butler will assume the role of chairman.
According to a company statement, Chamberlain is resigning to pursue other interests, but will continue to consult through 2010 with the company on acquisitions and any other corporate matters when requested by management.
Houston-based Deep Down is an oilfield services company serving the worldwide offshore exploration and production industry. The company's services and solutions include distribution system installation support and engineering services, umbilical terminations, loose-tube steel flying leads, distributed and drill riser buoyancy, ROVs and ROV tooling, as well as marine vessel automation, control, and ballast systems.
FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.
Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).
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