Resolution Minerals (ASX:RML) has just announced a change to its board.
Resolution Minerals regrets that due to the increasing demands of his executive and other board roles, Mr Andrew Shearer has resigned as a Non-Executive Director of the Company.
The Board wishes to express its deep appreciation for the significant contribution and guidance Mr Shearer has provided in taking the Company from its Initial Public Offering to present projects.
Shares of Resolution Minerals 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.