The DroneShield Ltd (ASX: DRO) share price is under the spotlight today after announcing that both its CEO and Chair will leave.
DroneShield is a defence company, focused on providing equipment and technology that helps protect against drone attacks.
Leadership to step down
DroneShield said that CEO and Managing Director Oleg Vornik is stepping down after more than 10 years in the role. He will continue at the company as an advisor for the next three months to support a smooth transition.
It also announced that Chair Peter James has decided to retire from the board and will not seek re-election at the upcoming annual general meeting (AGM). James has been the Chair since before the IPO in 2016.
New CEO
Angus Bean has been appointed as the new Managing Director and CEO, starting today.
He was one of DroneShield’s earliest employees, joining in 2016 and has held ‘C-level’ executve roles at DroneShield since 2018 when he was appointed the chief technology officer.
Bean led the development of the products that the business is currently selling to the market and is the “key architect” of its current and next generation of technologies.
DroneShield also noted that the new CEO has been a prominent representative of the business to many of its major customers.
Chair replacement
Hamish McLennan will join the board from 1 May 2026 as an independent non-executive director and Chair-elect. He will assume the role of Chair at the end of the AGM.
DroneShield said that McLennan is an experienced executive and board director across private and public organisations with a “strong focus on building companies and driving superior corporate governance”.
McLennan has been the Chair of REA Group Ltd (ASX: REA), helping it grow its market capitalisation grow from $2 billion to $20 billion.
Chair James noted that McLennan has experience helping a tech business grow. He has also led companies with multinational interests.
Trading update
The company announced it has achieved strong momentum in the March 2026 quarter.
Revenue grew by 87% year on year to $63 million and cash receipts jumped 361% year on year to $77 million.
Total committed revenue has reached $140 million.
Final thoughts on the DroneShield share price
The business has gone through enormous volatility over the past year. It’s good to see that the business continues to report strong revenue growth year on year,
I’m not sure what will represent a good valuation for the long-term because I’m not sure how earnings will develop from here. Will growth significantly slow within the next year or can it continue rapid growth?
I’m not sure either way, which is why there are other ASX growth shares I’d rather look at.
