Shares in ICFG Limited (LSE:ICFG) fell 9 % on Wednesday after the company announced the immediate resignations of its chief executive and chief financial officer, just weeks after completing a reverse takeover.
Oliver Fox, who had led the London-listed group through the transaction, has stepped down as CEO, while Benjamin Proffitt has also resigned as CFO.
Independent director Robert Shepherd has also tendered his resignation, but will remain for three months to ensure a smooth transition.
To steady leadership, the company has promoted from within. Enkhmaral Batkhuyag, vice-president of ICFG PTE in Singapore, becomes interim CEO, while Tserennadmid Ganbaatar, CFO of Mongolian subsidiary SIBJ Capital, has been named interim group CFO.
ICFG said the search for permanent appointments is underway.
The stock fell 3p to 31p.