PAX Global Technology Ltd. (00327.HK) chief financial officer Chris Lee has resigned just days after being embroiled in controversy over his removal of an investment analyst from a company presentation.
Lee, 39, made only a passing mention of the incident, merely saying he wanted to rest after creating shareholder value for the company in the past five years.
He thanked his friends and supporters who had stood by him “through this trying time”.
“I hope that this and any related issues conclude here and that the investment community returns its focus on the business fundamentals of PAX Global,” Lee said in a statement to investors and the media.
“I hereby express my sincere apologies again for my unprofessional behavior on 10th August.”
Lee sparked outrage when he removed Macquarie analyst Timothy Lam from a presentation, threatening to cancel the event if the latter did not comply.
Lam had fallen out of favor with Lee after writing negative research reports about the company.
The next day, Lee apologized but doubled down by saying analysts are high-caliber professionals who should be responsible for their views.
Lee said he resigned from all his positions in the payment technology company effective Monday.
PAX Global executive regrets kicking out Macquarie analyst (Aug. 11, 2016)
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