SiteMinder (ASX:SDR) has just announced a change to its board.
SiteMinder, the world's leading open hotel commerce platform, today announces the appointment of Dean A. Stoecker as an independent non-executive director of the Board, effective 15 September 2022.
Dean is an American entrepreneur and businessman, who in 1997 co-founded a company, know today as the software giant Alteryx (NYSE:AYX).
Dean is currently Alteryx's Executive Chairman and was previously its Chief Executive Officer.
Shares of SiteMinder have risen 1.543% 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.