Why Is Raptis Group’s Founder Stepping Down After 14 Years?
James Raptis, founder and long-time director of Raptis Group, will resign this September, with new CEO Russell Garnett stepping in as the company plans a strategic board refresh.
- James Raptis to resign as director effective 30 September 2025
- Russell Garnett appointed CEO and Managing Director
- Raptis to focus on private residential projects with son Evan
- Negotiations underway for two new board directors
- Company signals new strategic direction for shareholder benefit
Leadership Transition at Raptis Group
Raptis Group Limited (ASX – RPG) has announced a significant leadership change with the resignation of its founder and director, James Raptis, effective 30 September 2025. After more than a decade at the helm, Mr. Raptis will step away from the public company to concentrate on private residential developments alongside his son, Evan, continuing a family legacy on the Gold Coast.
New CEO and Board Reinforcement
In a move signaling a new chapter, Russell Garnett has been appointed as CEO and Managing Director. His leadership is expected to guide Raptis Group through its next phase of growth and transformation. Meanwhile, the company is actively negotiating with two potential new directors to strengthen the board, aiming to inject fresh perspectives and expertise that align with the company’s evolving strategy.
Strategic Outlook and Market Implications
The departure of a founder often marks a pivotal moment for any company, and Raptis Group is no exception. While details on the new strategic direction remain under wraps, the board’s intention to chart a course that benefits shareholders suggests a focus on revitalising operations and possibly expanding beyond its traditional residential development footprint. Investors will be watching closely for further announcements that clarify the company’s future plans and how these leadership changes will impact performance.
Continuity and Legacy
James Raptis’s decision to focus on private projects with his son underscores a continued commitment to residential development, albeit outside the public company structure. This move may allow for more agile project execution and a concentrated pipeline over the next five years, maintaining the family’s influence in the Gold Coast property market.
Raptis Group’s board expressed gratitude for Mr. Raptis’s leadership and support, acknowledging his foundational role in the company’s journey. The market can expect updates as the company finalises its board composition and strategic plans.
Bottom Line?
Raptis Group’s leadership reshuffle sets the stage for a strategic reset; investors await clarity on the company’s next moves.
Questions in the middle?
- Who are the two potential new directors being considered for the board?
- What specific strategic initiatives will the new leadership pursue?
- How will the market respond to the founder’s departure and new CEO’s vision?
