Electro Optic Systems Holdings (ASX:EOS) has just announced a change to its board.
Electro Optic Systems Holdings is pleased to announce the appointment of Mr Robert Kaye SC as an independent Non-Executive Director of the Company effective today. This appointment is part of the Board's ongoing renewal process and strengthening of the Company's corporate governance oversight.
Mr Kaye is a Senior Counsel who practised in the Supreme Court, Federal Court and High Court of Australia and has a broad commercial and legal background.
He has extensive board experience workinng on a diversse range of ASX-listed and private companies.
Shares of Electro Optic Systems Holdings have risen 2.040% 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.