CSL CEO Paul McKenzie retires ahead of results, sending shares lower as Gordon Naylor steps in

MELBOURNE, Feb 10, 2026, 17:06 (AEDT)

• CSL announced CEO and managing director Paul McKenzie is stepping down, handing the reins to interim chief Gordon Naylor starting Feb. 11.
• CSL rolls out its leadership shift just a day ahead of its half-year results and the investor call on the calendar.
• CSL shares dropped roughly 5% at the close, dragging on the wider Australian market.

CSL announced Tuesday that chief executive and managing director Paul McKenzie is stepping down. Gordon Naylor, a veteran executive at the company, will assume the interim CEO role starting Feb. 11.

CSL dropped the news just ahead of its half-year results, cranking up scrutiny on Wednesday’s update—and whatever the new leadership might signal in terms of guidance.

CSL dropped 4.98% by the close, while the ASX 200 edged 0.03% lower to finish at 8,867.4. https://www.abc.net.au/news/2026-02-10/asx-markets-business-live-news-feb-10-2026/106322382 1

Chair Dr Brian McNamee said in an ASX statement that he and McKenzie agreed “now is the right time for new leadership” to continue driving CSL’s “strategic transformation and performance.” 2

McKenzie came onboard CSL in 2019 as chief operating officer, later stepping into the CEO role in March 2023. The company attributes its more stable manufacturing and supply chain operations during COVID-19 to his leadership, and points to his role in pushing plasma collection volumes past what they were before the pandemic.

CSL collects plasma—the yellowish liquid found in blood—to produce therapies for rare and serious conditions. The company also operates a major network for sourcing plasma, supporting its portfolio that includes an influenza vaccine as well as treatments for kidney and iron deficiency.

CSL highlighted several therapies rolled out while McKenzie was in charge, mentioning Hemgenix—billed as the world’s first gene therapy for haemophilia B—and Andembry, used to treat hereditary angioedema, a rare disorder causing swelling.

Naylor, who previously served as CSL’s finance chief and president of CSL Seqirus, stepped onto the board as a non-executive director in December. In a statement, he described his “immediate priority” as collaborating with the board and leadership team on the transformation plan.

CSL made changes to its finance team last year, putting chief strategy officer Ken Lim into the CFO role in September, according to Reuters. He stepped in for Joy Linton. 3

The board hasn’t picked a permanent replacement yet, nor given any timeline—just that a search is underway as Naylor steps in. With results day right around the corner and Naylor holding the interim title, there’s little tolerance for confusion or a disappointing forecast.

McKenzie described the last three years as “challenging” but pointed to organisational improvements, ongoing R&D investment, and the launch of a new vaccine facility in Melbourne as achievements he’s proud of.

CSL said McNamee and Naylor were set to address the leadership change on a 5 p.m. AEDT call. Naylor and Lim will handle the half-year results presentation.