‘Not shy in disrupting ourselves’: Meet CSL’s new boss

He was also positive on Moderna’s presence in the Australian market, observing that the growth of the biotech sector makes it an attractive career path.

“The more that the industry grows, the better for everybody. We look forward to delivering a differentiated portfolio,” he said.

McKenzie has been chief operating officer at CSL since 2019 and was widely considered by insiders to be the most likely successor to Perreault.

He joined the business from an executive role at US pharmaceuticals developer Biogen, and has held senior roles at companies including Johnson & Johnson and Bristol Myers Squibb.

As chief operating officer, McKenzie oversaw the operations of vaccine business CSL Seqirus throughout the pandemic, as well as the company’s plasma operations and its new acquisition, Swiss-headquartered CSL Vifor.

He will take the job during a year where CSL is expecting a raft of clinical trials data, including from its phase 3 trial of CSL112, which is being developed as a treatment to help prevent second heart attacks.

He said he was hopeful the data would be possible, but was waiting on the information before speculating on what the launch of that product would mean to CSL long term.

“Science is a game of investment and payout – and we’ll see where we end up with that once we see the clinical results.”

Perreault’s retirement from CSL closes a decade-long chapter marked by key acquisition decisions and the coronavirus pandemic.

Under his leadership, CSL purchased and executed a turnaround of the Novartis influenza vaccine business, transforming it into a major revenue driver as part of CSL Seqirus, which generated $US1.9 billion ($2.8 billion) in revenue last year.

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Perreault also oversaw the production of the AstraZeneca COVID-19 vaccine onshore in Australia, and inked the company’s largest acquisition with the $18.8 billion purchase of Swiss pharmaceuticals firm Vifor.

While market analysts initially questioned the strategy and price tag for Vifor, Perreault vigorously defended the buy as a way to ensure diversified growth for the company long term.

“Did we have to do the deal? I’d say, probably not, but it’s a great opportunity,” he said in October.

When Perreault took the role in July 2013, shares were trading at around $63. The stock was sitting at $296.84 in early afternoon trading on Tuesday – a gain of 364 per cent.

He will step down from the role next March and stay on as an adviser to CSL until his retirement in September.

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