Advanced Share Registry (ASX:ASW) has just announced a change to its board.
Advanced Share Registry is please to advise the appointment today of Jeffrey Broun FCA MAICD as a Non-Executive Director of the Company.
Managing Director, Kim Chong, noted Mr Broun's skillset and experience are ideal for us to expand our services to the increasing number of unlisted companies requiring greater shareholder engagement support as they transition from unlisted to listed status.
Shares of Advanced Share Registry have risen 2.439% 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.