A-Cap Energy (ASX:ACB) has just announced a change to its board.
A-Cap Energy has appointed the company's current Chief Executive Officer, Dr Andrew Tunks, as the Managing Director effective immediately.
Dr Tunks re-joined A-Cap as chief executive in July 2022. With the revitalisation of the Letlhakane Uranium Project in Botswana now ramping up and a pre-feasibility study advancing at the Wilconi Nikel-Cobalt Project in Western Australia, A-Cap's Board has unanimously voted for Dr Tunks to resume his previous role as Managing Director.
Dr Tunks is a qualified geologist and has held numerous leadership and exploration during his 30+ year career, including board positions with ASX-listed companies Meteoric Resources (ASX:MEI), Auroch Minerals (ASX:AOU) and West Wits Mining (ASX:WWI).
Shares of A-Cap Energy have risen 1.123% following the announcement.
Any change in the make-up of a company?s board can have an impact on a company?s stock price.
Generally, age-related turnovers and voluntary resignations have a marginal impact on the share price.
However, when either the Chairman or another board member is ousted, this can have a significant impact on the stock price.
As the role of the board is to endorse the strategy of the business, changes to the board can have an impact on the strategic direction of the company and therefore it?s future profitability.