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Highlights
- CSL Limited appoints Dr Paul McKenzie as its next CEO and managing director.
- Shares of CSL were down 0.509% at 12:17 PM AEDT, 13 December 2022.
- The company also informed to have ceased 10,029 securities today (13 December).
On 13 December 2022, Australian biotechnology company CSL Limited (ASX:CSL) announced the appointment of Dr Paul McKenzie as its new chief executive officer (CEO) and managing director. The shares of CSL Limited appeared to be reacting negatively to this news. One share of CSL was valued at AU$296.680 with a loss of 0.509% as of 12:27 PM AEDT, 13 December.
With today’s decline, CSL’s shares have dropped 0.43% in value in the last five trading sessions while gaining 3.55% in a month. Over six months, the share price of CSL has increased by 12.38%, and on a year-to-date (YTD) basis, it has increased by 0.25%. Additionally, shares of CSL have lost value by 0.18% over the course of a year.
Details of the appointment
Beginning on 6 March 2023, Dr Paul McKenzie will succeed Mr Paul Perreault as the new CEO and managing director of CSL. Mr Perreault has worked for the company for more than 25 years, the last 10 of which he has spent as CEO and managing director of CSL.
Dr McKenzie has more than 30 years of leadership experience in the global biotechnology sector, including leading complex organisations through compelling development and transition. Dr McKenzie has overseen growing the CSL Seqirus, CSL Plasma, and CSL Vifor businesses in addition to optimising CSL's operations since he joined the company as COO in 2019.
Dr McKenzie served as executive vice president of Pharmaceutical Operations & Technology at Biogen before joining CSL. At Johnson & Johnson, Bristol-Myers Squibb, and Merck, he also held a variety of increasingly senior-level positions in manufacturing and R&D.
Talking about this new appointment, Mr Perreault said:
Image Source: © 2022 Kalkine Media ®
Data Source: Company announcement dated 13 December 20
What else has been happening at CSL?
On 13 December, CSL also informed the market about ceasing 10,029 securities on 30 November 2022 as conditional rights to securities have expired since they can no longer be satisfied because the requirements have not been met.
