Parkway Corporate (ASX:PWN) has just announced a change to its board.
Parkway Corporate advises that Alexander Cook has resigned from his various positions at the Company, to pursue another career opportunity.
Mr Cook's resignation as Executive Director of the Company will take effect immediately as of today.
The Board would like to sincerely thank Mr Cook for his contributions to the Company, since starting as General Counsel on 5 July 2021.
Shares of Parkway Corporate have stable 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.