Cyclopharm (ASX:CYC) has just announced a change to its board.
The board of Cyclopharm is pleased to announce the appointment of Professor Gregory King as a Non-Executive director, with the appointment effective immediately.
Dr King is a world-renowned respiratory physiologist who brings over 25 years' experience as a clinician, educator and researcher to the Cyclopharm board.
Dr King is a Professor of Respiratory Medicine at the Northern and Central Clinical Schools of the University of Sydney and a Practitioner. Greg is also the Staff Specialist in the Department of Respiratory Medicine at Royal North Shore Hospital, where he directs the asthma service and is the Medical Director of the Respiratory Investigation Unit, and the Research Leader of the Airway Physiology and Imaging Group at the Woolcock Institute of Medical Research.
Shares of Cyclopharm have stable 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.