Ann: PharmAust launches international CEO search, page-54

Great post Pete - our thinking is very aligned.
The new CEO “cost” for quality is an interesting challenge, but I think they have some great levers other than dollars, namely:
1. This is likely / hopefully a blockbuster drug - a career maker,,, kudos, legacy, new exciting roles after etc. it has a lot of appeal for a professional.
2. there are plenty of highly lucrative and attractive share rights incentive’s available if point 1 is possible.
3. there are often high quality, mid-career execs that have made their way and learned a lot while working for BP - and the chance of point 1 outside the corporate machine is always an exciting option for a confident executive.
4. Australia is great place to live in a crazy world.
5. Then there are dollars to consider - important but certainly not the big driver here. Don’t get me talking about the QUAN Jerry!

This announcement is a very strong signal that PAA is about to get busy, and BAU is changing. I definitely agree that CEO now to secure $ / deals is key, and CSO later this year is likely to be a very good move … and the new CEO can pick that person and build that strategy and team. Very logical, unless BP buys the lot with stupid money.

Exciting seems like understatement to me.

Regards
QQ