Australia's DroneShield rebounds as Jefferies backs new CEO, chair

DroneShield

09/04/2026 05:05

Updates

** Shares of DroneShield DRO.AX rise as much as 3.8% to A$3.58

 ** On Wednesday, tumbled 13.5%, after drone tech firm said CEO Oleg Vornik and Chairman Peter James would step down

** Exits come after top executives, including Vornik and James, received scrutiny over selling off company shares in November

** Jefferies ("hold", PT A$3.70) says Chief Product Officer Angus Bean's elevation to CEO is 'natural replacement' and brings depth of product and software knowledge

** Adds, Hamish McLennan's appointment as chair is "solid" given roles as former CEO of Ten Network and current chair of advertising co, REA Group REA.AX

** However, flags achievability of long-term incentives given selloffs, slower committed revenue pipeline growth, easing of geopolitical uncertainty

** Stock up 13.5% YTD

(Reporting by Nichiket Sunil and Nikita Maria Jino in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com))