Imugene (ASX:IMU) has just announced a change to its board.
Imugene, a clinical stage immuno-oncology company, is pleased to announce the appointment of Dr Jakob Dupont as a Non-Executive Director.
Dr Dupont is an industry and academic drug development expert, specialising in oncology and other therapeutic areas, with more than 20 years of experience.
He has made major contributions to the development and approval of ten oncology drugs and has orchestrated successful development programs for numerous drugs.
Shares of Imugene have risen 6.818% 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.