Mader Group CFO transition: Patrick Conway steps in as interim CFO
Mader Group Limited (ASX: MAD) has advised that Paul Hegarty will step down as Chief Financial Officer (CFO) effective 29 October 2026. Executive Director Patrick Conway has been appointed interim CFO from that date.
The handover takes effect on the same day, and the interim appointee is an existing executive. The company describes Mr Conway’s appointment as providing continuity during the transition period.
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Why Patrick Conway brings continuity
Who is Patrick Conway
Mr Conway is described as an experienced finance executive. Key credentials from the announcement include:
- More than 15 years’ experience in senior finance roles
- With Mader for over 11 years
- Has previously held both the CEO and CFO positions
- Currently serves as Executive Director and Director of Emerging Businesses
Mr Conway will continue in his existing role alongside his interim CFO responsibilities. According to the company, this provides continuity and extensive knowledge of Mader’s operations and financial management during the transition period.
Paul Hegarty’s contribution
Mr Hegarty joined Mader in September 2020. The company says he played an important role in strengthening its finance and reporting functions and supporting its continued growth and international expansion.
Executive Chairman and Founder Luke Mader thanked him in the announcement:
Luke Mader, Executive Chairman and Founder
“On behalf of the Board and the entire Mader team, I would like to sincerely thank Paul for his dedication and contribution over the past six years…”
What is a CFO transition and why it matters to investors
A CFO oversees a company’s financial reporting, capital management and communication with investors. An interim CFO is a temporary appointment while a permanent hire is found.
Investors tend to watch these changes because continuity in reporting and financial discipline matters. Here, an internal executive with prior CFO experience has stepped into the interim role.
Mader’s FY26 results showed revenue crossing $1 billion for the first time and a balance sheet that moved to net cash, giving the incoming interim CFO a stronger financial position to manage than at any point in the company’s recent history.
The change sits within a group that, according to the company, connects a global network of over 520 customers to a skilled in-house workforce of approximately 4,500+ personnel.
| Role | Person | Status | Effective date |
|---|---|---|---|
| Chief Financial Officer | Paul Hegarty | Stepping down | 29 October 2026 |
| Interim CFO | Patrick Conway | Appointed | 29 October 2026 |
What happens next for Mader’s CFO search
Two steps follow from the announcement:
- Permanent CFO recruitment: Mader has commenced a recruitment process to appoint a permanent CFO.
- Market update: The company will update the market once an appointment has been finalised.
Mader has received multiple awards, including Employer of the Year and WA Business of the Year at the 2025 WA Business Awards.
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