Cordlife CEO's sudden exit rattles market
Shares dive up to 9.8 per cent day after company announced Jeremy Yee's departure
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Anita Gabriel
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Singapore
THE sudden resignation of Jeremy Yee as boss of Cordlife Group, a cord blood banking firm he firmly led and where he ran a tight ship for close to five years, left corporate watchers gobsmacked and the stock limp with uncertainty on Tuesday.
Cordlife shares fell as much as 9.8 per cent to S$1.245 before closing the day 6.5 Singapore cents or 4.7 per cent down at S$1.315. About 2.75 million shares changed hands. The volatility followed an overnight announcement that Mr Yee had quit as Cordlife's chief executive to "pursue other interests" - a term which more often than not, reveals almost nothing.
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