QX Resources (ASX:QXR) has just announced a change to its board.
QX Resources is pleased to announce the appointment of Steve Promnitz to the new role of Managing Director to facilitate the growth and development of the Company's lithium assets in Western Australia and its gold projects in Queensland.
Shares of QX Resources have risen 6.060% 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.