NCL International Logistics (SET:NCL) said its director and chief executive officer, Pongthep Vichaikul, has resigned from his positions, with effect from Wednesday, after the Securities and Exchange Commission (SEC) imposed civil sanctions on him, according to a Thursday filing to the Thai stock exchange.

The SEC sanctioned Vichaikul and other offenders for jointly creating a false market in the price or trading volume of the company's shares.

The logistics company said it has four other directors with signing authority. Vichaikul's resignation is not expected to affect the company's business operations in any way, the company said.