AFR has a few articles on the new CEOHere is a link to one...

AFR has a few articles on the new CEO

Here is a link to one (Chanticleer)

https://www.copyright link/chanticleer/perreault-leaves-csl-in-good-hands-20221213-p5c61h

Here is the transcript

Perreault leaves CSL ingood hands

CSL’s second seamless transition in 30 years from one CEOto another internal candidate is a blueprint for other complex, globalcorporations.

Global biotechnology company CSL keeps giving its ASX 200counterparts masterclasses in CEO succession planning.

It did it in February 2013 with the appointment of PaulPerreault to replace Brian McNamee, who is now chairman of the $143 billioncompany.

Now, it has done it again with the promotion of chief operatingofficer Paul McKenzie to succeed Perreault as CEO from March.

A lot of thought went into McKenzie’s appointment as COOin June 2019. He fitted the high qualification hurdles set by the CSL board,including a PhD in chemical engineering from Carnegie Mellon University and animpressive career at American biotechnology company, Biogen.

He had also worked as head of research and development atEthicon, a division of Johnson & Johnson Health, and before thathead of manufacturing and technical operations at Janssen Pharmaceuticals.

McKenzie’s knowledge of supply chains, technology and hisclear display of leadership worked in his favour. Also, he was perceived tohave the personality to lead CSL’s global team.

The CSL board recognised early on that well thoughtthrough CEO succession requires years of preparation. That’s something that hasyet to dawn on many ASX-listed companies.

When the CSL board hired McKenzie it was not sure ifhe would be the correctperson to replace Perreault, but on paper he looked like the ideal person.

He came to CSL with an inside running for the top job, asshown by the decision by McNamee and Perreault to create the COO positionspecially for him.

As COO, McKenzie was made accountable for “optimisingCSL’s operations as well as growing the CSL Seqirus, CSL Plasma, and CSL Viforbusinesses.

In other words, the company’s growth agenda was inMcKenzie’s hands.

The company said on Tuesday that McKenzie had “transformedCSL’s global end-to-end operations, advanced CSL Seqirus’ differentiatedportfolio strategy, and led CSL Plasma through COVID-19 challenges whilesurpassing plasma collection volumes beyond pre-pandemic levels”.

CSL’s succession strategy involved giving McKenzieincreasing levels of responsibility over the past three years. He came throughwith flying colours.

He takes over a company that is doing very well and hasthe support of the market. This is a tribute to Perreault, who got his mindaround CSL’s complex matrix structure and turbocharged its growth.

The stock has risen fivefold under Perreault’s leadership,and it remains a darling of many investors and analysts.

The consensus share price target is $317.40 a share,according to the 16 broking analysts surveyed by S&P Global MarketIntelligence. The range of forecasts is from $263 a share to $342 a share.

The latter forecast is from Macquarie equities, which saysCSL’s adjusted profit will rise by 15 per cent this financial year to $2.6billion.