OncoSil Medical (ASX:OSL) has just announced a change to its board.
OncoSil Medical, a medical device company focused on localised treatments for patients with locally advanced pancreatic cancer (LAPC), is pleased to announce further Board renewal since last year's AGM. Mr Brian Leedman has been appointed to the Board as a Non-Executive Director.
Mr Leedman is a marketing and investor relations professional with over 15 years' experience in the biotechnology industry.
Mr Leedman is the founder of ResApp Diagnostic Pty Ltd which was acquired by Narhex Life Sciences Limited to from ResApp Health Limited where Mr Leedman is the Executive Director of Corporate Affairs.
Shares of OncoSil Medical have fallen 5.769% 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.