CSL gets a new CEO after Paul Perreault’s successful 9-year tenure ends

Nick Sundich Nick Sundich, December 13, 2022

One of the most prominent hot seats among ASX companies is CSL CEO and there’s a change coming next year. After a 9-year tenure, Paul Perreault is retiring, and Chief Operating Officer Paul McKenzie will succeed him.

 

No time to do stock research, but you still want to invest?
 
Stocks Down Under Concierge gives you timely BUY and SELL alerts on ASX-listed stocks!

 

GET A 3-MONTH FREE TRIAL TO CONCIERGE TODAY

 

 
Who is the new CSL CEO?

Paul McKenzie is currently CSL’s COO and has only been there since 2019. But he comes with over 3 decades of leadership experience in the global biotech sector. Most notably, he helped grow the Seqirus, Plasma and Vifor businesses amidst the global pandemic. 

McKenzie will take over as CEO on 6 March next year. He will be paid US$1.75m per annum as a base salary, with the potential for bonuses. 

 

Will the next decade be as spectacular as the first?

Shareholders should take comfort in having an internal candidate as CEO. No doubt McKenzie will be able to shift into the hot seat easier than an external candidate. 

Yet, we expect a poor share price response in the next few days, because investors never like it when a long-term CEO stands down, especially one with such a solid record as Paul Perreault. 

 

ASX:CSL share price growth during Paul Perrault’s tenure as CEO (Graph: TradingView)

 

At the same time, CSL is far from a microcap that is solely reliant on its CEO to run the company. So, longer term we expect CSL to continue its solid track record of growth in the years ahead. 

 

 

No time to do stock research, but you still want to invest?
 
Stocks Down Under Concierge gives you timely BUY and SELL alerts on ASX-listed stocks!

 

GET A 3-MONTH FREE TRIAL TO CONCIERGE TODAY

 

No credit card needed and the trial expires automatically.

 

 

Blog Categories

Get Our Top 5 ASX Stocks for FY25

Recent Posts

Here’s why Proteomics (ASX:PIQ) shareholders should brace themselves for a big 2025!

Proteomics (ASX:PIQ) is one of the healthcare stocks to watch in CY25, because it has not one, not two, but…

Can companies face criminal charges

Can companies face criminal charges? Yes they can!

Can companies face criminal charges? It is a complicated question, but not one that can be answered with a flat…

Gallium Metal

Why Gallium is Important and Which Stocks Are in It

Did you know that there are ASX explorers searching for Gallium? Did you even know this element existed? It is…