Effective March 31, 2025
Key Highlights:
- New CEO Appointment: Russell Cohen has been appointed as the new Group Managing Director (MD) and Chief Executive Officer (CEO) of PEXA Group Ltd (ASX: PXA), effective 31 March 2025.
- Current Role: Cohen is currently the Group Managing Director of Operations at Grab, a multinational technology company, where he leads business performance, platform safety, and market expansion across seven countries. He has also played a pivotal role in Grab’s regional strategic growth.
- Previous Experience: Prior to Grab, Cohen held senior roles at SoftBank C&S and Brightstar Corp., where he led business development and corporate strategy, including founding Brightstar’s Greater China operations.
- Leadership Search: The appointment follows a comprehensive search process, with the PEXA Board focusing on finding a leader with strong strategic capabilities, commercial performance, and a focus on innovation, regulation, and customer engagement.
Strategic Vision for PEXA
- Exciting Opportunities: Cohen expressed his enthusiasm about joining PEXA, noting the company’s significant potential to leverage its platform and digital solutions to transform the property market.
- Focus on Growth: His ambition is to create sustainable value for shareholders, customers, and employees through disciplined strategic execution. He aims to build on the solid foundations established under the leadership of Glenn King, PEXA’s outgoing CEO.
- Returning to Melbourne: Cohen, originally from Melbourne, looks forward to returning home to join PEXA’s leadership team and contribute to the company’s growth in Australia and the UK.
Transition Plan
- Glenn King’s Departure: Glenn King, the current Group MD and CEO, will step down on 28 February 2025, following the release of the company’s half-year results for FY24.
- Transition Support: King will assist with the leadership transition in an advisory capacity until the end of June 2025.
- Interim Leadership: Scott Butterworth, PEXA’s Chief Financial Officer (CFO), will assume the role of Acting Group MD and CEO from 1 March to 31 March 2025.
Acknowledging Glenn King’s Contributions
- Leadership Impact: PEXA Board Chair Mark Joiner thanked Glenn King for his leadership, highlighting his role in growing PEXA’s core Exchange business, which now covers around 90% of Australia’s property transactions.
- IPO and Expansion: King guided PEXA through its 2021 IPO and expansion into the UK, including several strategic acquisitions. The Board expressed its gratitude for his passionate leadership and wishes him well in his next endeavors.
This leadership transition marks an exciting new chapter for PEXA as it continues its growth trajectory and expands its influence in the property sector.
