Raptis Appoints CEO Garnett with $200K Salary and 20 Million PSUs
Raptis Group Limited has appointed Russell Garnett as its new CEO and Managing Director, effective July 1, 2025, with a remuneration package heavily weighted towards long-term performance incentives.
- Russell Garnett appointed CEO and Managing Director from July 1, 2025
- Fixed annual salary set at $200,000
- Eligible for 20 million performance share units (PSUs) under long-term incentive plan
- PSUs vest based on share price milestones ranging from $0.50 to $1.50
- Outgoing CEO resigns effective June 30, 2025, with a smooth leadership transition planned
Leadership Transition at Raptis Group
Raptis Group Limited (ASX – RPG) has announced a significant leadership change with the appointment of Russell Garnett as its new Chief Executive Officer and Managing Director, effective from July 1, 2025. This appointment follows the resignation of the current CEO, who will step down on June 30, 2025, marking a carefully managed transition aimed at maintaining strategic continuity.
James Raptis, Chairman of the Board, expressed confidence in Garnett’s capabilities, highlighting his deep experience in property and corporate leadership. The board anticipates that Garnett’s commitment to growth and innovation will be instrumental in steering the company through its next phase of development.
Compensation Structure Focused on Performance
Garnett’s remuneration package includes a fixed annual salary of $200,000, which is modest by CEO standards but balanced by a substantial long-term incentive plan. He is eligible for up to 20 million performance share units (PSUs), subject to shareholder approval and specific vesting conditions tied to the company’s share price milestones.
The PSUs are divided into three tranches, each linked to escalating share price targets – $0.50, $1.00, and $1.50, with vesting periods ranging from three to five years. This structure aligns Garnett’s rewards closely with shareholder value creation, incentivizing sustained performance over the long term.
Strategic Implications and Market Expectations
The appointment signals a strategic pivot for Raptis Group, emphasizing performance-driven leadership and shareholder alignment. The sizeable PSU grant suggests the board’s confidence in Garnett’s ability to drive the company’s share price upward, although actual benefits depend on meeting challenging market milestones.
Investors will be watching closely to see how Garnett’s leadership influences Raptis’s operational strategy and market positioning, especially given the property sector’s dynamic environment. The three-month notice period and standard post-employment clauses indicate a professional and structured approach to governance and executive accountability.
With Garnett set to operate from the company’s New South Wales head office, the transition also reflects a geographic and operational focus that may hint at future growth initiatives in that region.
Bottom Line?
Raptis Group’s new CEO appointment, backed by a hefty performance-based incentive, sets the stage for a critical test of leadership and shareholder value creation.
Questions in the middle?
- Will shareholders approve the long-term incentive plan tied to the 20 million PSUs?
- How quickly can Russell Garnett influence Raptis’s share price to meet the PSU milestones?
- What strategic initiatives will Garnett prioritize to drive growth and innovation?
