ASX Opens Down 0.3pc, EML Plunges

Australian Financial Review2022-07-11

Shares in EML payments dove 17 per cent at the open on Monday after announcing the surprise resignation of chief executive Tom Cregan.

Mr Cregan had been with the company for over a decade and led it from a small technology business to a multinational payments leader operating in 32 countries, the company said in an ASX statement.

He will be replaced immediately by current EML Board member Emma Shand.

Australian shares opened the trading week lower by 0.3 per cent, defying futures expectations.

Materials, information technology and consumer discretionary were all trading down 1 per cent, while energy led the pack, up 1.05 per cent.

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