Why Is Ava Risk Group’s CEO Stepping Down Amid Strong Growth?
Ava Risk Group announces the upcoming retirement of CEO Mal Maginnis, with senior executive Neville Joyce appointed as Acting CEO. The company embarks on a global search for a permanent replacement amid strong recent growth.
- CEO Mal Maginnis to retire on 22 January 2026
- Neville Joyce appointed Acting CEO immediately
- Global search underway for permanent CEO
- Significant strategic and financial progress under Maginnis’s leadership
- Aura Ai-X platform commercialised with major account wins
Leadership Change at Ava Risk Group
Ava Risk Group Limited (ASX – AVA) has announced that its Chief Executive Officer, Mal Maginnis, will retire from his executive role effective 22 January 2026. Mr Maginnis, who joined the company in early 2023, will also step down from the Board immediately. To maintain operational continuity, senior executive Neville Joyce has been appointed Acting CEO with immediate effect.
A Period of Transformation
During his nearly three-year tenure, Maginnis has overseen a significant transformation of Ava Risk Group. The company has sharpened its strategic focus, revitalised its product offerings, and strengthened its financial position. Notably, the launch and global commercialisation of the Aura Ai-X platform marked a major milestone, positioning Ava as a leader in smart fibre optic sensing technology.
Under Maginnis’s leadership, Ava secured major contracts across diverse sectors including transportation, aviation, border protection, corrections, and critical infrastructure. This translated into strong revenue growth and a healthier EBITDA profile, supported by improved sales execution and operational discipline. The company also increased its recurring revenue through multi-year service contracts and expanded its project pipeline, enhancing its resilience against market fluctuations.
Transition and Future Outlook
Chairman David Cronin expressed gratitude for Maginnis’s contributions, highlighting the CEO’s role in positioning Ava for long-term success. Maginnis himself reflected positively on his time at the helm, citing the company’s technological advancements and strengthened customer relationships as key achievements. He will remain involved during the transition period and plans to continue supporting Ava in non-executive capacities.
The Board has initiated a global search for a permanent CEO to lead Ava Risk Group into its next growth phase. Meanwhile, Acting CEO Neville Joyce will focus on maintaining momentum and ensuring operational stability. Investors and industry watchers will be keen to see how this leadership transition influences Ava’s strategic trajectory and market performance.
Bottom Line?
As Ava Risk Group navigates this leadership transition, the market will watch closely for signals on its next chapter of growth and innovation.
Questions in the middle?
- What qualities and experience will the Board prioritise in the new CEO search?
- How will the leadership change impact ongoing projects and customer relationships?
- Can Ava sustain its recent growth momentum during the transition period?
