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Talk of CEO's departure sends MMC shares tumbling.
NEWS of Tan Sri Ibrahim Menudin's impending departure from Malaysian Mining Corp Bhd (MMC) triggered talk that he may have lost a speculated boardroom spat, and sent MMC's shares tumbling yesterday.
MMC saw its share price fall almost 2 per cent as investors reacted to the chief executive's early retirement. However, the stock recovered to halve its losses, and ended just 2 sen lower at RM2.05.
Last week, MMC said Ibrahim has opted for early retirement and would leave the company on October 31. His successor will only be known in January.
Ibrahim was reportedly at odds with low-profile businessman Tan Sri Syed Mokhtar Syed Al-Bukhary after MMC's …
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