Steadfast COO Nigel Fitzgerald says he decided to leave the company’s executive team and not pursue the top job given the potential travel demands and family considerations.

Mr Fitzgerald, who was considered a front runner to take over from CEO Robert Kelly, told a Steadfast investor day he wanted to make the decision while there was still a “significant runway” before the company needs to appoint a successor. 

“The easy way to explain it is my priorities have evolved in the last couple of years. I have an older sister that’s unwell and I have a 14- and 16-year-old,” he said. “[It] became apparent to me that the biggest priority for me was my time, and where do I choose to spend my time.”

Mr Fitzgerald said he has spent a long time working in the US and the UK, and does not want to take on the level of travel and commitments required as Steadfast expands internationally. He also wants to pursue entrepreneurial opportunities. 

“I guess there was the combination of, how do I spend the next chapter of my career aligned to those time goals? And then also, I do have an entrepreneurial itch,” he said.

Steadfast announced on Monday that Mr Fitzgerald will leave the business on July 1 to pursue a personal business venture. It said he will remain in a senior advisory role until September 30 and continue in board positions for some of the group’s subsidiaries.

“I am ending my corporate career at Steadfast so things I do next will be under my own banner, and so without conflict,” Mr Fitzgerald told the investor day. “I’m glad that I can stay involved, stay on some subsidiary boards, support Robert and support the executive team.”

Mr Fitzgerald, who joined the company two years ago, says Steadfast was the corporate he wanted to work for and the decision is bittersweet because he was “really happy in my job and what we’re driving”, but the time is right. 

“Robert and I have worked amazingly well. I’ve learnt a tonne. I’ve had the ability to work collaboratively with him. We didn’t agree on everything, in a good way. In the best interests of Steadfast, we challenged each other relentlessly, and I’m pleased to say that’s the ethos of the exec team that we’ve put in place.”

Mr Kelly, who has confirmed a commitment not to retire before the end of December next year, told the briefing there are four internal candidates that could take on the CEO role.

“If those four internal candidates don’t make the cut in the board’s view, then we’ll go and look externally, and we will do that in a timely manner,” he said.

Steadfast announced its expansion into the US in October 2023 with the purchase of ISU Group and is also boosting its operations in the UK, while continuing to pursue local growth.