Business news

    Heavy Minerals (ASX:HVY) announces a board change

    Article Image

    Heavy Minerals (ASX:HVY) has just announced a change to its board.

    Heavy Minerals today announced that Mr. Maurice Matich has resigned from the HVY board to pursue other business opportunities.

    Mr. Matich has been with the company prior to the successful listing of HVY in 2021.

    Shares of Heavy Minerals have fallen 8.571% 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.

    Disclaimer

    Grafa is not a financial advisor. You should seek independent, legal, financial, taxation or other advice that relates to your unique circumstances. Grafa is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on the information provided directly or indirectly by use of this platform.

    Publisher
    Grafa