Vice chairman Michael L. Douglas has resigned from Electronic Payment Services Inc., operator of the MAC electronic banking network.
Mr. Douglas' resignation came only days after EPS fired 26 employees, including some top-level managers.
Mr. Douglas had been named chief operating officer when EPS was formed three and a half years ago. In early 1993, he added the title of president of Money Access Service to his resume.
At the beginning of 1994, he took over the company's Buypass point of sale processing business in Atlanta, as president and chief executive officer. He became chairman of Buypass in October 1994.
In early 1995, EPS chairman David Van Lear asked Mr. Douglas to return to the company's Wilmington headquarters to become vice chairman, overseeing strategic business initiatives.