Cordlife CEO's sudden exit rattles market
Shares dive up to 9.8 per cent day after company announced Jeremy Yee's departure
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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