Mineral Resources Ltd (MIN.AU) saw its stock plummet by 5.04% during Wednesday's trading session, following the unexpected resignation of two non-executive directors, Jacqueline McGill AO and Susie Corlett. The sudden departure of these key board members, who were instrumental in improving governance and procedures, has raised concerns among investors about the company's corporate leadership.

The company announced the resignations in a brief statement, with Non-Executive Chairman James McClements acknowledging the directors' efforts to enhance governance and procedures across the business. However, the lack of detailed explanation for their departure has left shareholders speculating about potential underlying issues. Both McGill and Corlett were known for their involvement in governance matters, making their exit particularly noteworthy.

This development comes at a challenging time for Mineral Resources, as the company is already grappling with the fallout from a tax evasion scandal involving Chris Ellison and concerns about iron ore demand amid US-China trade tensions. The abrupt board changes have added another layer of uncertainty, potentially exacerbating investor worries about the company's stability and future prospects. As Mineral Resources navigates these multiple challenges, the market will be closely watching for any further developments or explanations regarding the company's governance and strategic direction.