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.

 

 

Recent Posts

FY24 guidance

5 stocks that issued or upgraded their FY24 guidance in recent weeks!

We’re nearly at that time of year when companies upgrade or downgrade their FY24 guidance. It is called ‘confession season’.…

Temple and Webster (ASX:TPW): Here’s why there’s still more growth to come from this ecommerce furniture outlet

Temple and Webster (ASX:TPW) was one of several homewares and furniture companies to benefit from the pandemic as locked-down consumers…

tigers realm coal

Tigers Realm Coal (ASX:TIG): Its making an awkward exit from Siberian coking coal, but what’s next?

Tigers Realm Coal (ASX:TIG) has been one of the few ASX stocks (if not the only ASX stock) with direct…