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    Humm Group (ASX:HUM) announces a board change

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    Humm Group (ASX:HUM) has just announced a change to its board.

    Humm Group is pleased to announce the appointment of Mr Anthony Thomson and Mr Robert Hines as independent Non-Executive Directors of hummgroup.

    Mr Thomson has a deep and extensive background in financial services in both Australia and the United Kingdom, most notable as Co-Founder and Chairman of neo bank 86 400 which was acquired by National Australia Bank in 2021.

    Mr Hines brings over 35 years' experience in banking, finance and funds management services, agriculture and energy sectors with senior executive roles focusing on finance, retail and operations. His breadth of experience covers mergers and acquisitions, capital funding, strategic financial advice, liquidity management and corporate and financial risk management.

    Shares of Humm Group have risen 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.

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