Changing of the guard at CSL as Perreault heads into retirement

CSL boss Paul Perreault will step down from the top job at the biotech giant next year after a mammoth decade at the helm, which included the global pandemic, producing AstraZeneca’s COVID-19 vaccine and the $18.8 billion purchase of Swiss company Vifor.

The $143 billion plasma treatments maker confirmed via an ASX announcement on Tuesday that CSL chief operating officer Paul McKenzie will take the reins from next March after Perreault announced plans to retire.

McKenzie joined CSL back in 2019, before the COVID-19 pandemic began, and has been focused on the operations of the company’s vaccine arm, CSL Seqirus, as well as its plasma products business and the integration of iron deficiency and kidney disease products maker Vifor, which CSL acquired last year in its most significant investment to date.

He joined the company from US pharmaceuticals company Biogen and has held senior roles at other biotech giants including Merck and Bristol Myers-Squibb.

Perreault announced his plans to retire after a decade leading the business and 25 years at the company.

He oversaw a number of major acquisitions across his tenure, including the purchase of the Novartis influenza vaccine business, which became a major revenue generator for CSL over the past seven years as part of CSL Seqirus.

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Perreault has also championed further diversification of CSL’s focus, leading the business to an $18.8 billion purchase of Vifor last year, which beefed up the company’s ability to treat patients with kidney disease and iron deficiency.

CSL chair Brian McNamee said McKenzie was a worthy successor to Perreault, and would be able to lead the company into its next phase of growth.