SpiceJet falls after reports of CEO exit

Reuters Market Eye - Shares in SpiceJet Ltd fall as much as 3.3 percent after media reports said Chief Executive Neil Mills has resigned more than a year before his contract was due to end.

A source familiar with the matter told Reuters that Mills had resigned but was yet to leave the company. The source did not give a reason for Mills' resignation.

Mills, who joined SpiceJet as CEO in 2010, did not answer phone calls. SpiceJet declined comment.

Indian newspaper Mint on Wednesday said Mills had resigned, citing one source familiar with the matter, and quoted another unnamed source as saying the executive could be joining another Asian airline, perhaps within a month's time.

 

SpiceJet shares were trading 3 percent down at 26.55 rupees at 1.05 p.m.

(Reporting by Devidutta Tripathy)