Latrobe Magnesium (ASX:LMG) has just announced a change to its board.
The Board of Latrobe Magnesium is pleased to announce the appointment of Michelle Blackburn as a Non-Executive Director effective 1 September 2022.
Shares of Latrobe Magnesium have risen 4.938% 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.