Published • loading... • Updated
Chief of Australia's biggest biotech retires abruptly
CSL appointed Gordon Naylor as interim CEO after Paul McKenzie's sudden retirement amid pressure to restore growth following a 32% share price decline, the board said.
- On Tuesday, Dr Paul McKenzie retired as chief executive and managing director of CSL Limited, and Gordon Naylor was named interim CEO, effective 11 February.
- Faced with downgraded guidance and weaker vaccine demand, the board sought a leadership reset, with CSL chair Dr Brian McNamee saying 'Paul and the board have determined that now is the right time for new leadership' to continue CSL's strategic transformation.
- CSL has seen its share price slump about a third over the past year, despite McKenzie stabilising manufacturing and boosting plasma collections.
- CSL said the interim team will run investor reporting while the board conducts a full CEO search, with Gordon Naylor and Ken Lim presenting half-year results tomorrow.
- Following CSL chair Dr Brian McNamee, the board appointed Naylor, with 33-year CSL tenure, amid a 'sense of urgency' and operational complexity.
Insights by Ground AI
17 Articles
17 Articles
Coverage Details
Total News Sources17
Leaning Left5Leaning Right2Center2Last UpdatedBias Distribution56% Left
Bias Distribution
- 56% of the sources lean Left
56% Left
L 56%
C 22%
R 22%
Factuality
To view factuality data please Upgrade to Premium
