Riches takes top spot at 40under40 awards

By Simone Grogan

06/05/2022 - 23:00

Events, Free to read

Riches takes top spot at 40under40 awards

WA's top young business talent gathered for the event. Photo: Matt Jelonek

GenusPlus Group founder and managing director David Riches has been named First Amongst Equals at the 2022 40under40 Awards, ahead of a diverse cohort of Western Australia’s young business and community leaders.

Business News’ 21^st 40under40 awards were presented at a gala event held at Crown Perth on Friday night in celebration of WA’s top young business talent across a diverse mix of sectors, from finance and health, to law and community leadership.

Speaking at the event, Business News senior editor and chief judge Mark Beyer said there had been a record number of applicants, making it challenging to choose a winner.

“The judges were looking for the entrepreneurs – people who were willing to take a risk rather than follow the safe path, people who drove change,” Mr Beyer said.

“And while the awards are fundamentally about business success, that can come in many forms.”

He said there were some very impressive entrants who didn’t make the top 40.

“Part of me wishes we had more awards to give out – but that would just diminish how special these awards are,” he said.

Mr Riches was named Business News’ 40under40 First Amongst Equals and Large-sized Business Category Winner for his vision as a leader of GenusPlus Group.

He started his electrical services contractor business in 2009, which has since undergone a period of significant organic growth.

Targeting the state’s biggest iron ore miners he landed work with Rio Tinto, which followed with contracts with Western Power, Fortescue Metals Group and Roy Hill.

“I had a dream of how I felt a powerline or power infrastructure company should operate and run,” he said.

Despite going on to build an ASX-listed electrical services company that turned over around $320 million in its first year on the stock exchange, Mr Riches said growing a sense of mateship within the GenusPlus Group was the thing he was most proud of.

There were three other finalists for the First Amongst Equals: Rohan Hockings of PYC Therapeutics, Leah Hirst of JMH Group and Frank Mitchell of Kardan Construction.

Revo Fitness founder Andrew Holder won the Murdoch University People’s Choice Award while Granston Productions director Blake Granston was awarded The City of Perth Strategic Alliance Award.

Other category winners were: GenusPlus Founder David Riches (Large Business); Football West, Football Futures Foundation director James Curtis (Not-for-Profit); Maarli Services managing director Michael Hayden (Indigenous Business); O2 Marine managing director Christopher Lane (Start-up Business); JMH Group founder and director Leah Hirst (Family Business); and Kardan Construction founder Frank Mitchell (Medium Business).

You can read more about Mr Riches’ story and all the 40under40 winners in our next print edition on May 16 and online next week.

Congratulations to the 40under40 class of 2022

Adrian Munro: Richmond Wellbeing

Amitha Preetham: Health Integra Pty Ltd

Andrew Holder: Revo Fitness

Bay Yeo: Exal Group Pty Ltd

Blake Granston: Granston Productions

Chris Morrissey: Ever Nimble

Christopher Lane: O2 Marine

Cian Brennan: Quantum Contract Solutions

David Riches: GenusPlus Group Ltd

Eimear O'Brien: Advanced Hearing WA