Dacian Gold (ASX:DCN) has just announced a change to its board.
Dacian advises the following changes to its Board of Director (effective Wednesday 28th September):
Dacian's Non-Executive Chair, Mr Mick Wilkes and Non-Executive Director, Mr Eduard Eshuys have resigned from the Dacian Board. Mr Wilkes will join the Genesis Board.
Ms Sue-Ann Higgins will remain as an Independent Non-Executive Director.
Craig McGown has been appointed Independent Non-Executive Chair of Dacian.
Genesis' nominees, being Tony Kiernan, Morgan Ball and Lee Stephens, have been appointed to the Dacian Board as Non-Executive Director.
Craig McGown is an investment banker with over 40 years of experience advising companies in Australia and internationally, particularly in debt and equity financing in the natural resources sector.
Mr McGown is an Executive Director of the corporate advisory business New Holland Capital Pty (part of the Taurus Funds Management group) and was previously the Executive Chairman of stockbroker, DJ Carmichael Pty Limited and an Executive Director of Resource Finance Corporation Ltd.
Shares of Dacian Gold have risen 10.810% 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.