Paragon Care formalises leadership transition with Managing Director appointment
Paragon Care (ASX: PGC) has announced the appointment of Carmen Riley as Managing Director, effective 1 March 2026. Riley will continue in her current role as Chief Executive Officer, a position she has held since 1 July 2025, creating a combined MD/CEO position. The appointment is the next step in the leadership succession plan outlined in June 2025 and reflects the strong progress made by Riley since assuming the CEO role.
The transition provides leadership clarity as the healthcare wholesaler, distributor, and manufacturer enters its next phase of growth. Riley brings more than 15 years of experience within the broader organisation, including senior roles at Clifford Hallam Healthcare prior to its merger with Paragon Care.
Riley’s track record driving the appointment
Riley’s promotion to Managing Director reflects progress made since assuming the CEO role in July 2025. The company has cited operational improvements, advancement of its integration programme, and strengthened strategic foundations under her leadership.
Her career progression within the organisation includes:
- 15+ years with the broader group
- Chief Operating Officer following the CH2 merger
- Executive Director post-merger
- Senior leadership positions within CH2 prior to the merger
The board has highlighted Riley’s deep sector experience and proven leadership capability as key factors supporting the expanded role. Her operational track record provides continuity as Paragon Care executes its integration programme and pursues growth initiatives across Australia, New Zealand, and Asia.
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What is a Managing Director role?
In Australian listed companies, the Managing Director typically holds both board-level governance responsibilities and executive authority over day-to-day operations. The MD sits on the board of directors whilst also leading the executive team, creating a direct link between strategic oversight and operational execution.
When companies combine the MD and CEO roles into a single position, it typically signals board confidence in one executive to manage both strategic direction and operational delivery. This structure can streamline decision-making by consolidating authority, though it requires strong governance frameworks to maintain appropriate oversight.
The dual MD/CEO appointment indicates the board’s assessment that Riley possesses the capability to lead both the strategic and operational agendas. For investors, this structure removes the succession overhang that can emerge during leadership transitions and provides clarity on executive accountability.
David Collins transitions to Executive Director
As part of the planned succession, David Collins will step back from the Managing Director role to become Executive Director from 1 March 2026. Collins will continue contributing to corporate development, merger and acquisition opportunities, and the completion of key integration initiatives.
The transition retains Collins’ institutional knowledge and M&A expertise during a growth phase for the company. His continued involvement as Executive Director maintains continuity on strategic initiatives whilst enabling Riley to assume full executive leadership.
Peter Lacaze, ParagonCare Chair
“The Board is pleased to confirm Carmen’s appointment as Managing Director, further formalising the leadership transition announced in 2025. Carmen has demonstrated exceptional capability as CEO, and we are confident she will continue to drive the business forward in her expanded role. David has played a pivotal role in the development of ParagonCare, and we welcome his continued involvement as Executive Director as the Company moves into its next stage of growth.”
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Remuneration structure aligns executive incentives
Riley’s employment agreement includes performance-linked components designed to align management incentives with shareholder returns. The structure combines fixed remuneration with short-term and long-term incentive mechanisms.
| Component | Details |
|---|---|
| Total Fixed Remuneration | $850,000 (including superannuation and motor vehicle allowance) |
| Short Term Incentive | Up to 50% of TFR |
| Long Term Incentive | Performance Rights (approved at November 2025 AGM) |
| Notice Period | 12 months (either party) |
| Post-employment Restraint | 6 months |
The STI provides potential additional remuneration of up to $425,000 annually, contingent on meeting performance targets. The LTI component, approved by shareholders at the 19 November 2025 Annual General Meeting, links long-term value creation to equity-based rewards through performance rights.
What comes next for Paragon Care
The Managing Director appointment enables focused execution of the company’s growth strategy following the completion of its planned succession framework. Riley’s promotion removes leadership uncertainty and positions the business to advance integration initiatives whilst pursuing expansion opportunities across its Asia Pacific footprint.
With Collins remaining as Executive Director to support M&A activity and corporate development, the company retains expertise in evaluating strategic opportunities. The leadership structure balances continuity with the operational mandate required to deliver on integration benefits and revenue growth objectives as Paragon Care enters its next phase of development.
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