BNK Banking Corporation (ASX:BBC) has just announced a change to its board.
BNK Banking Corporation is pleased to announce the appointment of John Kolenda as a director of BNK, further bolstering the Company's highly experienced Board that will drive the next stage of growth.
Mr Kolenda holds extensive experience in the mortgage broking and aggregation sector and is the founder of several businesses including Finsure, which was acquired by the Company in September 2018 and was sold in February 2022.
Shares of BNK Banking Corporation have risen 2.752% 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.