After being ousted from Afiniti after allegations of sexual assault, Muhammad Ziaullah Khan Chishti has resigned from all his roles in TRG Pakistan Ltd.
The Board of Directors of TRG Pakistan Ltd. (TRGP) and The Resource Group International Limited (TRGI) have made it official that Chishti has stepped down from all his roles and responsibilities at TRG and its connected businesses effective immediately, including his positions as the CEO and a Director of TRGP, and as the Chairman and a Director of TRGI.
According to Bloomberg, 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 the benchmark KSE-100 Index. The shares have dropped by 30% since the assault claims, the business daily reported.
This follows Chishti’s resignation from his posts as the CEO and Director of the revolutionary tech firm Afiniti earlier this month. His departure came just two days after a former employee testified before the United States Congress that Chishti had sexually assaulted and abused her during a business trip to Brazil.
Chishti is also stepping down as the Chairman of Resource Group International Ltd., which holds a share in Afiniti.
Born in 1971, Pakistani-American Chishti is a graduate of Stanford and Columbia University. As a call center operator, he had created the company that became Afiniti in 2006, and spent more than a decade building Afiniti, which he claimed would transform call center operations.
He had surrounded himself with a star-studded team of advisers comprising a retired American admiral, A-list businessmen, and three previous heads of state, including former UK Prime Minister David Cameron.
Besides these endeavors, he had founded the dental braces company, Invisalign, which is currently worth $47 billion.
Before landing himself on a point of no return, Chishti had also employed a high-powered sales team that included a member of the British royal family and Winston Churchill’s great-grandson, and had signed up big-name clients like Caesars Entertainment and Enel SpA.