The news about key appointments can often have an effect on the stock price of a company and can send it either way. Thankfully for Cypress Development Corp (OTCMKTS:CYDVF), it proved to be a boost for its stock when the company made announcements about two new appointments this past Friday.
Cypress announced that it appointed Cassandra Joseph in the capacity of a non-executive chair and Bryan Disher as a non-executive direct at its Board of Directors. The two appointments went into effect immediately on August 27. Cassandra Joseph is going to be the replacement for the Chairman and President of the company Donald C. Hutson.
In this context, it is perhaps also necessary to point out that Hutson is going to continue to serve the board of directors at Cypress as a non-executive director. However, that was not all. Cypress also announced last Friday that Dr. William Willoughby was appointed as the new Chief Executive Officer and President of the company. Willoughby took up his roles with immediate effect.
The news also came as a source of major optimism for investors and the stock ended the day with gains of as much as 75. It is now going to be interesting to see if the Cypress stock can continue to add to its gains.