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Investing.com -- Shares of Norma, a German machine-part manufacturer, experienced a sharp drop on Tuesday following the unexpected resignation of its Chief Executive Officer, Guido Grandi.
The company's shares fell 7.3% to 15.70 euros during morning trading.
Grandi's departure from Norma was announced late Monday, with the company citing differences in strategic direction as the reason behind his immediate resignation.
The company's board is now actively searching for Grandi's successor.
In the meantime, Mark Wilhelms, the current chairman of the supervisory board, is set to assume the role of interim CEO.
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