Caeneus Minerals (ASX:CAD) has just announced a change to its board.
The Company is pleased to announce the appointment of Nick Poll as Executive Director, effective immediately.
Mr Poll is an accomplished resources executive with over 30 years experience managing early-stage exploration projects through the development stage into full production.
Mr Poll started his career as a geologist with Western Mining Corporation where he worked under the leadership of Roy Woodall as a specialist geologist focused on gold and nickel both in Australia and overseas.
Mr Poll was the founding Managing Director of Mirabella Nickel Limited (ASX:MBN) leading the exploration and discovery of one of the world's largest open cut nickel-sulphide mines.
Shares of Caeneus Minerals have fallen 9.999% 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.