Business news

    Patrys (ASX:PAB) announces a board change.

    Article Image

    Patrys (ASX:PAB) has just announced a change to its board.

    Patrys, a therapeutic antibody development company, is pleased to announce the appointment of Mr Stefan Ross as a Non-Executive Director, effective today. Stefan is also Patrys' Company Secretary.

    Shares of Patrys have risen 4.166% 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.

    Disclaimer

    Grafa is not a financial advisor. You should seek independent, legal, financial, taxation or other advice that relates to your unique circumstances. Grafa is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on the information provided directly or indirectly by use of this platform.

    Publisher
    Grafa