Bendigo and Adelaide Bank (ASX:BEN) has just announced a change to its board.
Bendigo and Adelaide Bank is pleased to announce the appointment of Alistair Christopher Muir as a Non-Executive Director of the Board.
Shares of Bendigo and Adelaide Bank have risen 1.403% 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.