New chair, new CEO, new direction for RMA Global
RMA Global has announced a coordinated leadership transition effective 29 September 2026, positioning the company to accelerate its US pivot and intensify its transformation agenda.
Ashley Farrugia moves from Non-Executive Director (NED) to Chair, while David Williams steps down from the Chair role to become a NED. Benjamin Balk has been appointed Chief Executive Officer, with outgoing CEO Jim Crisera remaining in the business for a short period to support the transition.
The changes are deliberate and pre-formed. According to David Williams, the team, including Balk, has “been working on these changes for some time,” indicating this is a structured reset rather than a reactive response to performance pressures.
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What the transformation agenda looks like
The new leadership team has outlined a structured plan with clear priorities. The new leadership team’s stated transformation objectives are:
- Simplify the business structure to increase execution speed
- Strengthen product and engineering capability
- Accelerate the use of artificial intelligence
- Raise accountability
The Board’s financial objective is explicit: finish FY27 with a materially stronger EBITDA result and exit FY27 with a strong EBITDA run rate. Further financial guidance is expected to be provided as implementation progresses, signalling ongoing market disclosure as the plan takes shape.
RMA Global will maintain its strategic focus on Australia, New Zealand, and the United States as its core markets.
Ashley Farrugia, incoming Chair
“…Our focus is simple. Build a faster, more capable and more profitable business on the building blocks we have. We will simplify the organisation, raise accountability, strengthen product and engineering and use AI aggressively to increase productivity and execution speed.”
Who is Benjamin Balk?
Balk’s appointment is not a cold hire. He has been working with RMA Global on strategy for approximately one year, providing familiarity with the business ahead of stepping into the CEO role.
He brings two decades of experience spanning product strategy, data commercialisation, digital transformation, software development, marketplaces, and technology-enabled business models. His remuneration package is summarised below.
| Component | Detail |
|---|---|
| Base salary | $425,000 p.a. plus statutory superannuation |
| Short term incentive (STI) | Up to $127,500 p.a. (30% of base salary), paid in cash, subject to financial and strategic KPIs set by the Board |
| Long term incentive (LTI) | Equity-based LTI to be set by the Board after commencement and announced to the ASX when granted |
| Notice period | 3 months, by either party |
| Start date | 29 September 2026 |
David Williams offered a direct endorsement of both the incoming Chair and the new CEO, while acknowledging the groundwork laid by Crisera during his tenure.
David Williams, outgoing Chair
“…Ashley has built, scaled and successfully exited a global real estate technology business and Benjamin brings strong technology, product, data and transformation experience. Moreover they will bring energy and urgency….”
Williams also noted Crisera’s contribution: “I would also like to thank Jim for his commitment over the last two and a half years… During his time, Jim commenced our US pivot strategy adding leading US brokerages to our client base in the US.”
What this means for RMA Global investors
The leadership transition carries a few signals worth monitoring. First, the coordinated nature of the change, with the incoming team having worked on the plan for some time before execution, reduces the execution risk typically associated with reactive leadership changes.
Second, the Board’s EBITDA target language is the key financial signal to track. A commitment to finish FY27 with a materially stronger EBITDA result, and to exit that year with a strong EBITDA run rate, provides a measurable benchmark investors can hold the new leadership against as further guidance is disclosed.
Third, Crisera’s US pivot work, including the addition of leading US brokerages to the client base, forms the strategic foundation the incoming team is building on. The direction remains consistent; what changes is the pace and structure of execution.
The RE/MAX partnership, a multi-year contracted arrangement giving RMA Global access to 75,000 North American agents, represents the most tangible output of Crisera’s US pivot and the strategic base the incoming leadership team inherits.
Two pending disclosures are worth watching: the LTI structure for Balk, which the Board will set and announce to the ASX after his commencement, and further financial guidance expected as the transformation plan is implemented.
For readers wanting to understand the scale of the US opportunity the new CEO steps into, our detailed coverage of RMA Global’s expanded North American addressable market explains how The Real Brokerage’s acquisition of REMAX effectively tripled the serviceable agent base to over 105,000 without RMA Global deploying additional capital.
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