PEXA shares lift on new CEO appointment
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More news: Shares in PEXA are up 4% to $12.81 in early trading after the online property settlements company named Grab Group executive Russell Cohen to succeed managing director and chief executive Glenn King next year.
The appointment comes after PEXA entered the UK last year in its first overseas expansion through the acquisition of Smoove, and amid reports of talks to buy Canada's Dye & Durham.
PEXA appoints Russell Cohen as new CEO
The news: Online property settlements company PEXA has named Grab Group executive Russell Cohen to succeed managing director and chief executive Glenn King next year.
The numbers: PEXA said King will step down from his role on 28 February, following the release of the group’s half-year results, but will continue in an advisory capacity until the end of June to assist through the transition.
PEXA chief financial officer Scott Butterworth will assume the role of acting group MD and CEO for the month of March, while Cohen’s appointment is effective from 31 March.
The context: Cohen is currently the group managing director of operations at technology company Grab, and has previously served in senior roles at the SoftBank Group.
PEXA Chair Mark Joiner said the appointment followed a rigorous external search process, and called Cohen “a dynamic leader and seasoned executive with deep expertise in scaling platform businesses”.
PEXA entered the UK last year in its first overseas expansion through the acquisition of Smoove, and has been looking to build scale in the fragmented conveyancing market.
The source: ASX announcement
