Shares in Aquarius Platinum (LSE:AQP) have plunged in the wake of the sudden departure of CEO Stuart Murray.
Reuters reports that Murray, who has been with the Aquarius for over a decade and is considered by many to be the face of the company, has resigned with immediate effect.
Aquarius shares have plunged nearly 9% in Monday morning trading.
Observers remain perplexed by the decision as Aquarius has not yet provided any reason for the sudden departure.
Aquarius, the world's fourth-largest platinum miner, was adversely affected along with the rest of the sector by violent labor disputes in South Africa.
The company was forced to suspend operations at its Kroondal mine last month and posted a full-year loss in August for the 12 months ended June 30.
South Africa's mining sector has been plagued with violent conflict in recent months, with nearly 50 people losing their lives in labor-related clashes since August.