Marina del Rey, CA – Epoch Transaction Services has announced that Chairman and CEO Chris Mallick is no longer with the company, effective immediately.The announcement came in the form of an email late on Wednesday, but gave no explanation for Mallick’s abrupt departure.

Part of the announcement reads:

“The team at Paycom (Epoch) has made some recent changes in its management. Christopher Mallick has departed Paycom.net/Epoch and is no longer its CEO. Paycom will be managed by its founders – Clay Andrews, the President, and Joel Hall, the Manager and Chief Technology Officer – along with Esther Martinez, who has been promoted to Chief Operating Officer.”

Epoch assures that business will continue as usual for the third-party processor, and that webmasters can look forward to new features, better technical support, as well as Epoch/Paycom’s expansion into Europe in 2005.

In a statement made earlier today on GFY, the industry’s busiest message board, Mallick explained that he was no longer Paycom’s CEO, denying rumors that he had quit his position. He added that the changes have been in effect since February 11.

Reluctant to divulge any more information at the present moment, Mallick concluded his post with praise for the team he had worked with during the past five years.