Johannesburg - The CEO of Aquarius Platinum Stuart Murray has resigned, the company confirmed on Monday.

“The Company has accepted the resignation of Mr. Stuart Murray as CEO of Aquarius Platinum Limited (AQP) and Chairman of its principal subsidiary Aquarius Platinum (South Africa) (Pty) Ltd (AQPSA) with effect from 5th October 2012,” said Aquarius Platinum in a statement.

No reasons were provided for Murray's resignation.

Murray had also terminated his directorships in all other group companies with immediate effect.

“However his employment with both AQP and AQPSA will continue until 31 March 2013 during which period he will provide whatever assistance is required to effect an orderly handover.”

The New Age newspaper earlier reported that Murray was fired but Aquarius Platinum denied this.

The newspaper said Aquarius was the first to fold under the pressure of low platinum prices and soaring operational costs by announcing in June that it planned to scale down production at its Marikana mine.

In the interim, Jean Nel had been appointed CEO and Zwelakhe Mankazana an interim non-executive chairman of AQPSA.

The board would consider a replacement in due course. - Sapa