Range International has replaced CEO Russell Kennett with Executive Chairman Richard Jenkins on an interim basis, with Jenkins to spend more time overseeing the company’s Indonesian operations. The restructure is expected to cut costs by up to 50%, although the company has not disclosed a baseline or implementation timetable.
- Russell Kennett resigns as CEO with immediate effect
- Richard Jenkins takes interim CEO role and will be based in Surabaya
- Management and expense changes expected to reduce costs by up to 50%
- Marcus Goldstein expected to join the board in early Q4 2026
- Southeast Asian pallet sales and rental expansion remains a priority
Jenkins Takes Interim Control of Indonesian Operations
Range International Limited (ASX:RAN) is changing its top management structure as it targets a sharp reduction in its corporate cost base. CEO Russell Kennett has resigned with immediate effect, and Executive Chairman Richard Jenkins has stepped into the role on an interim basis.
Jenkins will spend a significant proportion of his time in Surabaya, giving him direct oversight of Re>Pal’s manufacturing, sales and pallet rental operations in Indonesia. The company says the management changes and other expense decisions are expected to reduce costs by up to 50%, but it has not provided the baseline against which that figure is measured, the timing of the savings or a breakdown of the initiatives involved.
CEO Transition Comes Without a Stated Reason
Kennett became CEO in January 2025 after holding senior management roles at Range since 2023. The announcement credits him with strengthening management and accounting systems, improving discipline in the sales process and helping broaden the company’s funding base for its pallet rental expansion.
Range said Kennett will assist with an orderly transition over the next few months. It did not state why he was leaving. That makes the handover, rather than the departure itself, the immediate governance issue: the board is relying on its executive chair to combine oversight and day-to-day leadership while it pursues a longer-term structure.
Board Appointment Adds Indonesian Experience
The company also expects Marcus Goldstein to join the board as a non-executive director in early Q4 2026. Goldstein previously served as President Director of PT Re>Pal Internasional and has lived in Indonesia for more than 25 years. Range says he brings knowledge and contacts across Re>Pal’s operations, customers and market opportunities, and is expected to remain actively involved in developing the business.
Sugeng Riyadi, who became President Director of Re>Pal in April 2026, will continue leading the Indonesian business. Range and Re>Pal are pursuing expansion into other Southeast Asian markets through both pallet sales and rentals, with commercial partnerships and funding structures identified as priorities for Jenkins.
Cost Savings Must Be Matched by Execution
The announcement presents the restructure as a lower-cost platform with stronger executive involvement at the operating centre of the business. The potential benefit is clear in principle, but a reduction of “up to 50%” is a ceiling rather than a guaranteed outcome, and the filing offers no financial guidance against which delivery can yet be measured.
The next tests are likely to be practical: how quickly Range can complete the leadership transition, whether Goldstein’s appointment proceeds, and whether the claimed savings arrive without slowing manufacturing, pallet rentals or the planned regional expansion. With Jenkins taking on both chair and interim CEO responsibilities, the company’s ability to convert Indonesian oversight into measurable operating progress will be under close scrutiny.
Bottom Line?
Range is promising a leaner structure and deeper Indonesian leadership, but the investment case now turns on whether the unquantified cost target becomes visible in the company’s financial results.
Questions in the middle?
- What is the current cost base from which the potential 50% reduction is calculated?
- How long will Richard Jenkins remain interim CEO, and what process will determine the permanent leadership structure?
- Can Range fund and execute Southeast Asian expansion while management attention is concentrated on the Indonesian operation?