Great Southern Mining (ASX:GSN) has just announced a change to its board.
Great Southern Mining wishes to advise the appointment pf Mr Matthew Keane as Managing Director of the Company, effective today.
Mr Keane is a geologist with more than 20 years of experience in mining, exploration and financial markets.
He has worked in various technical, operational and corporate roles including exploration and mine geology, scheduling and design, resource and reverse estimation, production management, and mergers and acquisitions for companies including BHP, Paladin Energy an Lynas Rare Earths Limited.
He also spent eight years in capital markets working as a metals and mining analyst for Argonaut Securities.
Shares of Great Southern Mining have fallen 2.777% 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.