Reliance Worldwide Corporation Limited (ASX: RWC) made a significant announcement regarding changes to its Board of Directors. The RWC ASX announcement confirmed the immediate retirement of the Company’s Chair due to health concerns. The plumbing solutions manufacturer revealed the leadership transition on 19 January 2026 through official channels.
Figure 1: Stuart Crosby, former Chair of Reliance Worldwide Corporation [Reliance Worldwide Corporation]
Reliance Worldwide Corporation operates as a global manufacturer and distributor of water flow and control products. The Company serves the plumbing and heating industries across multiple international markets. The RWC board update marks a pivotal moment in the organisation’s governance structure.
Stuart Crosby Steps Down From Reliance Worldwide Corporation Chair Role
Stuart Crosby retired from his position as Chair of Reliance Worldwide Corporation with immediate effect. The decision stemmed from health issues requiring his departure from the Board. RWC board update confirmed the retirement through its official market disclosure to shareholders.
Crosby joined Reliance Worldwide Corporation’s Board of Directors in April 2016 ahead of the initial public offering. He assumed the Chair position in March 2019 after serving as a director. The veteran business leader contributed nearly a decade of service to the organisation.
The RWC ASX announcement detailed the circumstances surrounding the leadership change at the board level. Health considerations necessitated Crosby’s immediate departure rather than a planned transition process. RWC board update acted swiftly to address the governance vacancy created by his exit.
Non-Executive Director Takes Temporary Leadership
Russell Chenu stepped into the Chair role on an interim basis following Crosby’s retirement. The existing non-executive director of Reliance Worldwide Corporation accepted the temporary appointment immediately. Chenu brings extensive corporate and finance experience to the interim leadership position.
Figure 2: Reliance Worldwide Corporation leadership and management team meeting [Reliance Worldwide Corporation]
The RWC board update confirmed Chenu would serve as Chair while the Company searches for candidates. Reliance Worldwide Corporation initiated a formal search process for an additional non-executive director. The new appointee is intended to assume the permanent Chair role upon joining.
Chenu has served on Reliance Worldwide Corporation’s Board since the Company’s listing in April 2016. His previous executive roles included Chief Financial Officer of James Hardie Industries from 2004 to 2013. The interim Chair currently serves on the Audit and Risk Committee at RWC.
Board Commences Search for New Non-Executive Director
The Board of Reliance Worldwide Corporation launched a search for an additional non-executive director. The recruitment process aims to fill the vacancy created by Crosby’s retirement from the Board. The Company expects the new director to transition into the Chair position.
Figure 3: Reliance Worldwide Corporation manufacturing operations and product quality inspection [Reliance Worldwide Corporation]
Reliance Worldwide Corporation seeks candidates with appropriate skills and experience for board governance. The RWC ASX announcement indicated the incoming director would assume Chair responsibilities after appointment. Board composition remains a priority for the Company during this transitional period.
The search process will evaluate candidates against established criteria for non-executive director positions. RWC board updatemaintains specific requirements for board membership skills and competencies. The Company targets candidates capable of leading the Board through strategic initiatives.
Nearly a Decade of Leadership Service
Russell Chenu acknowledged Crosby’s significant contributions to Reliance Worldwide Corporation during his tenure. The retiring Chair led the Board for seven years through various strategic developments. His service began before the Company’s stock exchange listing in 2016.
Crosby spearheaded a refresh of the RWC Board composition during his time as Chair. He played an instrumental role in establishing new Board committees within the governance structure. These committees advanced critical areas, including health and safety protocols across operations.
Figure 4: Board and senior leadership team of Reliance Worldwide Corporation [Reliance Worldwide Corporation]
The former Chair strengthened sustainability initiatives at Reliance Worldwide Corporation throughout his leadership period. He fostered collaborative relationships between the Board and management teams across regions. The RWC board update recognised his efforts in enhancing the remuneration framework.
Business Continuity Maintained During Transition
Reliance Worldwide Corporation continues normal business operations despite the leadership change at the board level. The Company’s executive management team remains unchanged by Crosby’s retirement from the Chair position. Day-to-day operations across manufacturing and distribution facilities proceed without disruption.
The RWC ASX announcement reassured stakeholders about governance continuity during the interim period. Chenu’s familiarity with the Company’s operations supports a smooth leadership transition at the board level. Reliance Worldwide Corporation maintains its strategic direction under existing management guidance.
Investor Reaction to Board Changes
Reliance Worldwide Corporation shares last traded at AUD 3.82 on the Australian Securities Exchange. The Company maintains a market capitalisation of approximately AUD 3.10 billion at current prices. Share price performance over the past year ranged between AUD 3.68 and AUD 5.52.
Figure 5: Reliance Worldwide Corporation share price performance over the past year [ASX]
Governance Structure at Reliance Worldwide Corporation
The Board of Reliance Worldwide Corporation comprises independent non-executive directors and executive directors. Current membership includes Christine Bartlett, Darlene Knight, Ian Rowden and Brad Soller alongside Chenu. Chief Executive Officer Heath Sharp serves as the sole executive director.
Board committees oversee specific aspects of Reliance Worldwide Corporation’s operations and strategic initiatives. The Audit and Risk Committee monitors financial reporting and risk management frameworks. The Sustainability Committee guides environmental and social governance priorities across the organisation.
The Health and Safety Committee addresses workplace safety matters at RWC facilities globally. The Nomination and Remuneration Committee manages board composition and executive compensation structures. Reliance Worldwide Corporation maintains robust governance through these specialised committee structures.
FAQs
- Why did the Chair of Reliance Worldwide Corporation retire?
Ans. The Chair retired with immediate effect due to health concerns, as confirmed in the ASX announcement. - Who is the interim Chair of Reliance Worldwide Corporation?
Ans. Non-executive director Russell Chenu has been appointed interim Chair. - When was the RWC ASX announcement made?
Ans. The Company released the announcement on 19 January 2026. - Is Reliance Worldwide Corporation searching for a new Chair?
Ans. Yes, the Board has commenced a search for an additional non-executive director who is expected to assume the permanent Chair role.
