PEXA Group Appoints New CEO

Investing.com– Australia’s PEXA Group (ASX:PXA) shares reached a one-month high on Tuesday after appointing Russell Cohen as the new CEO, effective at March’s end in 2025.

The announcement boosted investor confidence, as Cohen brings extensive leadership experience and a proven track record in scaling technology platforms across the Asia Pacific.

PEXA shares surged nearly 10% to A$13.49, marking their highest level since November 19.

Cohen, currently the Group Managing Director of Operations at Grab Holdings (NASDAQ:GRAB), has led growth initiatives in seven countries, significantly contributing to the firm’s market expansion, as stated by PEXA.

His leadership was crucial in major corporate achievements, including Grab’s acquisition of Uber’s Southeast Asia business. With over 20 years of experience in technology and strategy, Cohen is well-equipped to help PEXA enhance its global standing in the digital property settlement market.

Outgoing CEO Glenn King, who has led the company since 2019, successfully guided PEXA through its 2021 ASX listing and its expansion into the UK market.

PEXA's Chief Financial Officer, Scott Butterworth, will take on the role of acting Group MD and CEO until March.