Credit Clear (ASX:CCR) has just announced a change to its board.
Credit Clear is pleased to announce the appointment of Mr. Paul Dwyer as a non-executive Director of the Company effective from today.
Mr. Dwyer founded PSC Insurance Group (ASX:PSI) where he serves as a non-executive Director and Deputy Chairman, and brings exceptional insurance industry experience along with a proven track record in business acquisition, growth and international scaling.
In addition to PSI and CCR, Mr. Dwyer also serves as Director of several private organisations across his investment, charitable and sporting interests.
Shares of Credit Clear 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.