PEXA has a new CEO and group managing director in Grab’s Russell Cohen, with Glenn King to step down from the position in early 2025.
Cohen is the group managing director of operations currently multinational tech company, Grab, where he has led the group’s expansion across seven countries.
Cohen has also served as a board director and vice president of business development and corporate strategy at SoftBank C&S in Tokyo, as well as regional managing director for Asia at Brightstar, who were acquired by SoftBank.
“Mr Cohen is a dynamic leader and seasoned executive with deep expertise in scaling platform businesses. He has achieved strong commercial transformation across multiple countries, with market leader Grab,” said Mark Joiner, group chair at PEXA.
“In our search for our new Group MD and CEO, we focussed on selecting a candidate with clear strategic capabilities, a track record in commercial performance and innovation, deep regulatory and industry engagement, and a strong people and customer focus.”
Cohen will step into the role effective from 31 March 2025, working out of the group’s Melbourne office.
“PEXA has significant opportunities ahead to leverage its core strength as a platform and digital solutions business. My ambition is to create sustainable value for shareholders, customers, employees and other stakeholders through disciplined strategic execution and clear focus on returns,” said Cohen.
“I’m pleased to return to my hometown of Melbourne to join the team and work with the leadership in Australia and the UK. PEXA’s future is an exciting one and I look forward to building on the solid strategic foundations established under Glenn’s leadership.”
King is set to leave the position on 28 February 2025, following the release of PEXA’s half year results. Though he will assist Cohen in the transition through to the end of June.
While PEXA’s group CFO will assume the role of acting group managing director and CEO from 1 March to 31 March 2025.
“On behalf of the PEXA Board, I wish to extend our sincere gratitude to Glenn for his passionate stewardship of our company. Glenn successfully led the growth of our core Exchange business, which now has around 90 per cent national coverage and is a critical part of Australia’s property ecosystem,” added Joiner.
“He guided PEXA through its listing on the Australian stock exchange in 2021 and has since overseen the establishment of PEXA’s growth business and expansion into the UK, including several strategic acquisitions. We wish Glenn well in his next chapter.”
PEXA has seen a 9.01% lift on the ASX index to $13.49 following the CEO announcement.
