Dreadnought Resources (ASX:DRE) has just announced a change to its board.
Dreadnought Resources is pleased to announced that Philip Crutchfield KC has been appointed as a non-executive director of Dreadnought effective 13 September 2022.
Philip is barrister specialising in cemmercial law. Philip is also a director of Black Cat Syndicate Limited (ASX:BC8), Hemelin Gold Limited (ASX:HMG), Encounter Resources Limited (ASX:ENR) and Applyflow Limited (ASX:AFW).
Shares of Dreadnought Resources have fallen 2.173% 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.