Morin tendered his resignation after the board of directors issued a show-cause notice for breaching the employment contract by having another job.
Lahore (Pakistan Point News – 28th May, 2019) pakistan stock exchange (PSX) Chief Executive Officer Richard Morin has resigned from his post.
A notification of his resignation was shared on the psx website.
According to the notification, his resignation has been accepted by the board of directors with immediate effect on Tuesday.
Morin tendered his resignation after the board of directors issued a show-cause notice for breaching the employment contract by having another job.
He was asked to explain his involvement as the board chairman of a foreign wealth management company.
He had submitted the reply on time. However, the board was not satisfied with his replies.
Richard Morin had failed to explain his involvement as the board chairman of a foreign wealth management company.
He was appointed as the PSX chief in 2017. Canadian-national Richard Morin was the first foreign national chief of the local bourse.
