Kuala lumpur: Offshore production and support services provider Bumi Armada Bhd saw its shares dip in early trade following the resignation of Gary Neal Christenson from his roles as chief executive officer (CEO), a member of the board of directors, and from all positions within its subsidiaries and joint-controlled entities, effective immediately.

According to BERNAMA News Agency, Bumi Armada's shares dropped by one sen to 35.5 sen by 10.18 am, with a trading volume of 21.6 million shares. In a filing with Bursa Malaysia on Monday, the group disclosed that Christenson, who was initially contracted to serve as CEO until May 15, 2026, requested an early release from his duties.

The company announced that its chief financial officer, Luke Targett, and chief operating officer, Alex Bridgen, will jointly assume leadership responsibilities. They will oversee the company's operations and ensure its continued performance following Christenson's departure.