Rebosis Property Fund said on Wednesday its CEO, Andile Mazwai, had resigned and the firm would postpone the release of its interim financial results, sending shares down more than 10%.
The company said in a statement its current Executive Deputy Chairman Sisi Ngebulana would be appointed as the interim CEO.
Mazwai, who was at the helm since October 2017, stepped down with immediate effect for personal reasons, the company said.
It added that it would postpone its interim results to May 8 and delay its dividend payment to 28 May.
Shares in Rebosis‘s fell as much as 10.4% and traded at 9.08% lower at R7.41 ($0.6) by 10:07 GMT. ($1 = 11.9937 rand)