Hot stock: AEM drops 6.6% after CEO quits

SHARES of AEM dropped by as much as 6.6 per cent as at the Friday (May 31) midday trading break, on the back of the resignation of its current chief executive Chandran Nair, which was announced the day before.

As at 12.32 pm, the counter was trading down S$0.13 at S$1.83, with 5.1 million shares having changed hands. The last time it closed at this level was April 2020.

The semiconductor player said after the market close on Thursday that Nair, who became CEO in 2020, had resigned to “pursue other personal interests”. His resignation takes effect on Jun 30.