KUALA LUMPUR (April 3): Tune Protect Group Bhd’s group chief executive officer (CEO) Rohit Chandrasekharan Nambiar is resigning from his position “due to personal reasons.”

The resignation will take effect May 10, according to the group’s stock exchange filing on Wednesday.

Rohit, 43, was appointed to the position more than three years ago in October 2020. He succeeded Khoo Ai Lin, who resigned after less than two years in the role to pursue new opportunities.

Tune Protect remarked that Rohit did not have any disagreement with the board of directors, nor are there any matters that need to be brought to the attention of shareholders.

The group has been in the red for the past three financial years, with a net loss of RM947,000 in the financial year ended December 31, 2023 (FY2023), RM35.09 million in FY2022 and RM14.99 million in FY2021.

Shares of Tune Protect closed at a one-year low of 32 sen on Wednesday, giving it a market capitalisation of RM241.2 million. The stock has fallen 20% since the start of the year.

Prior to joining Tune Protect, Rohit, whose nationality is Indian, served as the CEO of AXA Affin Life Insurance Bhd, a position he held for about two years.