WA Kaolin (ASX:WAK) has just announced a change to its board.
WA Kaolin wishes to advise that Mr. Linton Putland and Mr. Rod Baxter have resigned as non-executive director, effective immediately.
The Company is extremely grateful to both gentlemen for their contributions to the Company.
Shares of WA Kaolin have fallen 2.439% 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.