When a company adds new independent directors to its board, then it is generally regarded as significant news and on Monday, it was Motos America Inc (OTCMKTS:WECT) that was in the news for making such an announcement.
Market Action
On Monday, WECT stock ended flat at $0.0500 with 1K shares, compared to its average volume of 11K shares. The stock moved within a range of $0.0500 – 0.0500 after opening trade at $0.0500.
Motos America Adds Independent Directors
The company announced yesterday that it had decided to appoint as many as two new independent directors to its board. The two new individuals who have been appointed are Brent L Brown and Jennifer Danielson. In addition to that, Taylor Brody, who had previously been a member of the board is also going to join the board once again.
The board of directors at Motor America is going to be made up of 5 members. The other members are going to be TerinaLillard, who is the Treasurer and Secretary, and Vance Harrison, the Chief Executive Officer. Harrison spoke about the latest development as well.
He noted that everyone at the company was proud of the fact that the two highly accomplished members had been added to the board as independent directors. He went on to add that the two members were in perfect alignment with the mission of Motos America to maintain strong corporate governance.
Key Quote
“We are proud to be adding these great members to our Board,” said Vance Harrison, CEO of the Company. “Their addition aligns perfectly with our stated mission of implementing and maintaining solid corporate governance as we proceed with acquiring Powersports dealerships selling European luxury motorcycle brands across the United States.”
Traders Note
WECT stock is trading above the 20-Day and 50-Day Moving averages of $0.0431 and $0.469 respectively. Moreover, the stock is trading in the neutral zone with RSI stands at 52.
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