CSL gets a new CEO after Paul Perreault’s successful 9-year tenure ends
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
Recent Posts
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…
Is a soft landing still likely in Australia in 2024?
Is Australia still set for a soft landing? For some months now, it was thought the answer was a firm…
Johns Lyng Group (ASX:JLG): One of a few ways to profit from climate change
Johns Lyng Group (ASX:JLG) is a restoration services company, repairing properties after damage by insured events, including weather and other…