First Citizens' share price dips as CEO quits

Karen Darbasie -

First Citizens Group Financial Holdings’ share price is the lowest it has been for the year, following news that the group chief executive officer (CEO) Karen Darbasie has tendered her resignation.

The TT stock exchange (TTSE) reported that the company’s share price closed on August 21 at $40.71 per share, a 46 cent difference. At midday it held at the same price.

The last time the shares were that low was on December 31 last year, when it opened at $40.50.

On August 18, First Citizens Group’s share price opened at $41.41. By the middle of the week, August 20 it had slid to $41.17 per share.

By close, FCGFH share price slid even further down to $40.39.

On August 22 Newsday reported that CEO Karen Darbasie tendered her resignation. Newsday was told that the resignation was submitted to corporation sole Finance Minister Davendranath Tancoo on August 20.

Newsday was told the board intends to meet on August 25, where it will consider Darbasie’s resignation.

Once it is accepted the necessary steps would be taken to comply with the provision of the act.