Paul McKenzie retires, Gordon Naylor appointed interim CEO & MD
The Board of Directors of CSL Limited (ASX:CSL; USOTC:CSLLY) today
announces that Dr Paul McKenzie will retire as Chief Executive Officer & Managing Director.
Highly experienced former CSL senior executive and non-executive director1 Gordon Naylor has been
appointed interim CEO & MD, effective 11 February.
CSL Chair Dr Brian McNamee AO said: "Paul and the Board have determined that now is the right time
for new leadership to continue to drive CSL's strategic transformation and performance.
“On behalf of the Board, I would like to express our gratitude to Paul for his commitment and
contributions to the company over the past seven years, including his three years as CEO. During his
tenure, Paul guided CSL’s global operations through the challenges of COVID-19, stabilised
manufacturing and supply chains and increased plasma collection volumes beyond pre-pandemic
levels.
“Under Paul’s leadership, CSL introduced new therapies such as HEMGENIX®, the world’s first gene
therapy for haemophilia B, and ANDEMBRY® for hereditary angioedema. He also led transformation of
our end-to-end operations, making significant progress in improving plasma yield through initiatives
like Horizon 1 and Horizon 2.
“The Board is pleased to appoint Gordon as interim CEO & MD. Gordon’s proven track record and deep
knowledge of CSL give him the experience and ability to lead the business while a search takes place
for CSL’s next CEO.
“During Gordon’s 33-year tenure at CSL he played a pivotal role in the company’s rise to global
leadership in plasma therapies and vaccines, including as Chief Financial Officer and President of
Seqirus.
“Gordon played a key role in the acquisitions that established our global position in CSL Plasma,
Behring and Seqirus. He helped design and build the Broadmeadows plasma facility and was then the
site’s first Chief Engineer. He also ran global supply chain and IT.
“Gordon has the Board’s full authority to lead the company during this interim period.”
Gordon Naylor said: "I have had a long association with CSL. It is a great company with innovative
platforms, world-class people, as well as differentiated medicines and vaccines essential for patients
and communities globally. My immediate priority will be to work closely with the Board and leadership
team on executing our strategic transformation and delivering for our patients, public health and
shareholders.”
Dr Paul McKenzie said: "It has been a privilege to serve as CEO and to work alongside so many talented
and committed colleagues. While the past three years have been challenging for the business, I am
proud of our organisational improvements, the continued investment in research and development,
the new vaccine facility in Melbourne and the transformation of our end-to-end operations, all of which
lay the foundations for future growth.”
Dr McKenzie will step down as CEO & MD on 10 February 2026. Dr McKenzie’s existing awards will be
treated in accordance with their original terms upon his retirement.
CSL Chair Dr Brian McNamee and incoming CEO Gordon Naylor will host a call to discuss this
announcement. The call will be held today, Tuesday 10 February 2026 at 5:00pm AEDT. Participants
will have the opportunity to ask questions at the end of the call. Please register your attendance using
this teleconference link. The call will be recorded and uploaded to the company website www.csl.com
Authorised for lodgement by
Fiona Mead
Company Secretary
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What a time to "retire" - one of the worst timed announcements from a high profile company I can remember, after market close but before the post-match auction ended. Surely the market is going to take a dim view of this tomorrow, and that is even if the results don't have some nasty surprises lurking.
This company seems to have lost the plot with its recent management missteps.
