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JSW drops as CEO exit casts doubt on restructuring

By Reuters News

** Shares in JSW JSW.WA fall more than 6% after CEO Boguslaw Oleksy, who led the Polish coking coal miner's restructuring efforts, resigned on Friday

** "The market is always uncertain... who will be the successor, and whether the restructuring plan will continue even though its architect is leaving," says Jakub Szkopek, Erste Securities analyst

** A second postponement of the planned sale of two subsidiaries also added to concerns, Szkopek adds, with talks on state aid now dragging on for six months

** "In a situation where JSW's liquidity is very limited, this kind of news certainly does not help," the analyst says

** A broader selloff in mining stocks on Friday also weighed on sentiment, he adds

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