PEXA appoints two new UK co-CEOs

• PEXA has announced that PEXA UK CEO Joe Pepper will depart, with Krystle Kocik and Simon Wright appointed as co-CEOs.
• The company's stock price declined following the leadership transition announcement.
• The new management structure is designed to execute PEXA's expansion and build momentum within the United Kingdom property market.

PEXA (ASX:PXA) named two new UK Co-CEOs following the departure of Joe Pepper on June 30.

The leadership transition follows the company's recent integration of the Optima Legal and Smoove businesses into its digital platform.

“On behalf of everyone at PEXA, I would like to thank Joe for his contribution to PEXA UK at a crucial time for the business,” said PEXA CEO and Group Managing Director Russell Cohen.

The incoming joint leaders, Krystle Kocik and Simon Wright, will officially assume their new roles effective July 1.

Following the announcement, the PEXA share price was down at $10.21.

The new appointees bring a combined total of approximately 50 years of experience across financial services and property technology.

The company stated that the structure is designed to leverage complementary strengths to build momentum in the UK market.