Cronos Australia (ASX:CAU) has just announced a change to its board.
Cronos Australia is pleased to announce the following appointments to the Company's Board, both of which are effective today.
Ms. Jenelle Frewen - Independent Non-Executive Director, Canberra, Australia.
The Company has appointed Jenelle Frewen as an Independent Non Executive Director of the Board. Jenelle is an accomplished government strategist and adviser with more than two decades' experience spanning complex policy development and implementation in highly regulated industries.
She has led several federal and state political campaigns, and advised a range of business clients on public affairs and regulatory policy.
Dr. Simon Scovell - Independent Non-Executive Director, Sydney, Australia.
The company has also appointed Dr. Simon Scovell as an Independent Non-Executive Director of the Board. Simone is the Founder and CEO of TOTIUM, a multi-national B2B med-tech and health services company delivering quality, affordable and tailored healthcare solutions for some of the world's most iconic companies.
She is a Specialist Occupational Physician and Fellow of Medicine within the Royal Australasian College of Physicians who brings a wealth of experience in Commercial, Clinical and Health Data Governance.
Simone is currently a Nominee Representative on behalf of the Commonwealth Health Minister to sit a a Non-Executive Board Director for the Australian Institute of Health and Welfare (AIHW), further sitting as an AIHW Director of Risk, Audit and Finance.
She is a Non-Executive Director for the Whiddon Group, an award-winning, not-for-profit Aged Care provider where she Chairs both the ICT and Clinical Governance Committees.
Shares of Cronos Australia have risen 3.333% 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.