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AEM slumps 4.7% after its CEO resigns

AEM slumps 4.7% after its CEO resigns

By Kim Browne

Culture

As at 9.25 am, the counter has fallen to S$1.64, 4.7% below its Friday closing price

Shares of AEM fell on Monday (Jul 28) after the semiconductor test solutions provider announced that its CEO has resigned.

As at 9.25 am, the counter fell to S$1.64, 4.7 per cent or S$0.08 lower its Friday closing price of S$1.72, with some 2.3 million shares changing hands.

By 11.46 am, it inched back up to S$1.66, down S$0.06 or 3.5 per cent from Friday, with some 4.6 million shares transacted.

This comes on the back of a leadership change. AEM’s former chief executive officer Amy Leong resigned from the role on Sunday after holding the post for only slightly more than a year.

Samer Kabbani, who was formerly AEM’s president and chief technology officer, has risen to helm company as CEO.

To assist with the transition, Leong will continue as a senior adviser to AEM.

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Originally published by businesstimes.com.sg. Syndicated material does not necessarily reflect the views of Grazia British.

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