Jefferies sees leadership changes at Australia's DroneShield as positive despite selloff

DroneShield

08/04/2026 19:46

** Jefferies sees drone tech co DroneShield's DRO.AX appointment of Angus Bean as CEO and Hamish McLennan's appointment as chairman as net positive

** Co said on Wednesday Oleg Vornik and Peter James would step down as CEO and chairman, respectively; shares closed 13.5% lower

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

** Jefferies views Chief Product Officer Angus Bean as 'natural replacement' with depth of product and software knowledge

** Also says 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, brokerage wary of achievability of long term incentives given share selloffs by top execs

** Also flags slower committed revenue pipeline growth and dialing down of geopolitical uncertainty tempers near-term confidence

** Jefferies retains 'hold' rating, with A$3.70 price target

 (Reporting by Nichiket Sunil in Bengaluru)

 ((Nichiket.Sunil@thomsonreuters.com))