Tng (ASX:Tng) has just announced a change to its board.
Tng advises that Non-Executive Directors Mr John Elkington and Ms Elizabeth Henson have resigned from the Board, effective immediately.
As detailed in that announcement, the Tng Board recognises and appreciates the contribution to the Company made by both Directors.
Shares of Tng have fallen 28.000% 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.