3rd August, 2012 - Melbourne - CSL Limited (ASX:CSL) - CSL Chairman, Professor John Shine, AO, today announced that after 23 years at the helm of CSL, Dr Brian McNamee, AO, has agreed with the Board of Directors the timing of the handover to his successor as CEO and Managing Director. Dr McNamee will leave CSL in July 2013 and will be succeeded by Paul Perreault, currently President of CSL Behring.
Paul joined the Company in 2004 as part of the Aventis Behring acquisition. He has been a highly effective global leader in his current role carrying responsibility for the CSL Group’s international manufacturing and commercial operations across 26 countries which comprise over 85% of CSL Group revenues. He previously held the role of Executive Vice President for Commercial Operations during a period of exceptional revenue growth and expansion into new markets and his early career spanned both Commercial and Operational leadership. He will bring to the role of CEO strong leadership qualities and more than 30 years experience in the healthcare and biopharmaceutical industry.
Professor Shine said that long term succession planning for Dr McNamee had been underway for some time. He said “This plan is in line with our market announcement in December 2009 that Brian would continue as CEO for “three to four years”. He said he was very pleased that the Board had been able to select a candidate of Mr Perreault’s stature and capability from current management.
“Paul was selected after consideration of a strong field of well-qualified candidates. The process has reconfirmed the Board’s confidence in the quality and depth of CSL’s global management. Paul brings tremendous leadership capability to the role, together with deep experience in the day to day management of CSL’s global operations. He has been closely involved in the development of the current strategy and we are confident he will continue the trajectory of CSL’s growth and outstanding performance,” Professor Shine said.
Professor Shine said that he was pleased that Dr McNamee would continue to lead the organisation through until June 2013. “Brian will run the business as normal giving us the continued benefit of his leadership right up to the hand over mid next year,” he said.
He said that both Brian and the Board felt the time was right to pass the baton to the next leadership of the Company and he wanted to acknowledge Brian’s extraordinary contribution both to CSL and the local and international pharmaceutical industry.
“Brian’s achievement is the CSL you see today. He and his talented team, many of whom remain part of the leadership, built it more or less from scratch. When Brian took over in 1990, CSL was a domestic focussed government enterprise. Now, we are a proud Australian company; one of the world’s largest global plasma therapeutics businesses.”
CSL’s sold A$33 million of plasma therapies in 1991. In 2011 this had grown to A$3.8 billion.
“On behalf of the Board, I want to acknowledge Brian’s remarkable leadership and to thank him for dedicating to CSL his drive and vision over many years. I am confident he will continue to lead the Company to another strong performance in 2012-2013.” Professor Shine said.
Dr McNamee said his experience with CSL starting as CEO at only 33 years of age had been a remarkable opportunity. “Together we’ve built an exceptional business based on innovative R&D, operational excellence, consistent delivery and absolute commitment to patients. I am tremendously proud of the role CSL has played in providing life-saving medicines and our contribution to the development of new and better treatments. CSL is in great shape, has its strongest ever R&D pipeline and is well placed to continue a story of growth and success. ”
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