Yesterday, the BIOQUAL Inc (OTCMKTS:BIOQ) stock was trading within a range, however, in this regard, it is also necessary to point out that the company did make a significant announcement yesterday.
Market Reaction
On Monday, BIOQ stock fell 2.50% to $78 with more than 516 share, compared to its average volume of 65 shares. The stock moved within a range of $78.00 – 78.00 after opening trade at $78.
BIOQUAL, Inc. CFO Announces Retirement and Appointment to BIOQUAL Board
The company announced that its current Chief Financial Officer Dave Newcomer is going to retire from his role effective June 3, 2022. Up until then, Newcomer is going to remain in his position in order to help with the transition and pass on the responsibilities to the new CFO. However, that was not all. It was also announced that back on April 26, the BIOQUAL board had voted unanimously to add Newcomer to the board.
It had been done owing to the extensive knowledge that Newcomer possesses about BIOQUAL and its operations. He has been a long serving member of the company, having joined BIOQUAL in 1989 and then taken up the role of the CFO back in 1994. Hence, it could be said that replacing such a long serving executive may often prove to be a tough task. The position is going to be taken up by Charles C Kirk Jr, who holds more than a quarter of a century’s worth of experience in accounting and financial fields.
Key Quote
Upon his announcement, Mr. Newcomer stated, “I’ve been honored to serve as BIOQUAL’s CFO over the past 28 years. I’m proud of all our accomplishments over these years, including the quality of our financial reporting and our steady growth year after year.”
