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Nova Group CEO resigns

Business

One of South Australia’s largest home-grown defence companies, Nova Group, is searching for a new CEO, announcing the resignation of Greg Hume today amid a strategic review of the company’s growth opportunities over the next decade.

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Hume’s resignation coincides with a major review of the company’s strategic plan, which he initiated late last year, looking into the next decade of growth opportunities for Nova Group.

InDaily understands potential expansions into artificial intelligence, machine learning, big data, mining, oil and gas and civil transport are being considered as part of the strategic review, which is expected to be finished within the next month or two.

Nova Group and is the parent company of Adelaide-based defence systems engineering firm Nova Systems, civil aerospace engineering firm GVH Aerospace and integrated communications specialists Auspace, among other entities.

It has 600 employees around the country.

Hume joined what was then called Nova Aerospace as a consultant in 2003 after 20 years in the Royal Australian Air Force.

He rose to senior management in the company in 2009 and succeeded company co-founder, now-chair of the board Jim Whalley as CEO in 2016.

Hume will stay on for the next six-to-nine months, and be involved in responding to the findings of the strategic review, while a new CEO is found.

Whalley, who is also South Australia’s Chief Entrepreneur, said Hume had led the Nova Group’s global expansion and diversification strategy over the past four years, entering new markets in the UK, Asia, New Zealand and Europe, and overseen a more-than-doubling of the company’s revenue during his time at the helm.

“Greg has been a valued part of the Nova family for 17 years, and was a key founding member of the company,” said Whalley.

“He has been instrumental in the growth of Nova and his stewardship over the past four years has created a firm foundation on which we can continue to pursue our growth aspirations.

“The Board and I would like to thank Greg for his commitment and passion to the Nova organisation, and I personally wish him every success for the future.”

Chief Entrepreneur Jim Whalley (second from the right) speaks with Prime Minister Scott Morrison and Premier Steven Marshall at the announcement of the Australian Space Agency at Lot Fourteen on the old RAH site in 2019.

Hume said he was proud of the company’s achievements over the decades he’s spend working there and that now was the right time for him to leave.

“This year marks 20 years of Nova and I look forward to seeing the new Group CEO continue to harness the entrepreneurial spirit of our company as Nova embarks on this next exciting phase of its growth strategy and continue to solve the problems that really matter,” he said in today’s statement.

“I’ve been fortunate to have been a part of the Nova family, working with incredibly smart and dedicated people and am proud we have been recognised for a number of years as one of ‘Top 50 best places to work’ and ‘Top 50 Most Innovative Companies’ in Australia, along with a ‘Best place to work’ in Asia and the UK.”

Nova Group was listed at number 38 on InDaily‘s 2019 SA Business Index – an independent ranking of South Australia’s top 100 companies.

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