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TRG CEO Resigns From Roles Amid Sexual Assault Allegations

TRG CEO to Resign From All Roles Amid Sexual Assault Allegations

TRG Pakistan Ltd. shares tumbled after the company said Chief Executive Officer Zia Chishti has resigned from all roles in the company.

TRG’s stock dropped by as much as 3.9% in Karachi at 10:14 a.m. local time, the biggest decliner on benchmark KSE-100 Index. The shares have dropped by 30% since the assault claims.

Earlier this month, Chishti stepped down from his roles as CEO, chairman and board director at Afiniti Ltd., a TRG-linked company. That departure came two days after a 23-year-old former employee testified before a U.S. Congressional committee that he sexually assaulted her during a business trip to Brazil.

Chishti, who spent more than a decade building Afiniti, a company he said would revolutionize the way call centers operate, is also stepping down from his role as chairman of the Resource Group International Ltd., which owns a stake in Afiniti. 

The Pakistani-American previously launched the Invisalign dental braces business, which is now worth $47 billion. He founded the company that would become Afiniti in 2006 as a call-center operator. 

©2021 Bloomberg L.P.