East 33 (ASX:E33) has just announced a change to its board.
East 33 today advises that Mr Yu, a key employee of Shanghai Changxing Island Fishing Port Co. Ltd, an entity controlled by Mr Gao and which owns the Shanghai Changxing Island Fishing Port, has replaced Mr Gao as a Non-executive Director of East 33.
Mr Yu has been involved with East 33 since 2018 and has previously acted as an alternative director to Mr Gao.
Mr Yu has an in-depth understanding of the Australian aquaculture industry and extensive importing seafood from Australia to China.
Shares of East 33 have
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.