CSL (ASX:CSL; USOTC:CSLLY) today announced that Dr Brian McNamee AO and Mr Abbas Hussain have been appointed as independent Non-Executive Directors, effective 14 February 2018.
Dr McNamee AO will also assume the position of Chairman-elect. CSL’s Chairman, Professor John Shine AC, has announced his intention to retire at the conclusion of the 2018 Annual General Meeting in October 2018 following 11 years on the Board and six years as Chair. CSL’s Board of Directors adhered to appropriate governance and advice in appointing the new Directors.
CSL is a global biotechnology leader that has significantly evolved and grown in the last six years under Professor Shine’s Chairmanship. The company grew annual revenue more than 40% from US$4.8 billion to more than US$7 billion today; expanded its commercial footprint to more than 60 countries; delivered several strategic acquisitions, and launched a range of next generation innovative biotherapies across multiple geographic markets.
“I am honoured and proud of the business we have been able to build first with Brian McNamee and over the past four and a half years with Paul Perreault as CEO,” Professor Shine AC said. “Today, CSL is extremely well positioned to continue achieving sustainable growth. The future of CSL and the patients that we serve has never been brighter.”
Dr Brian McNamee AO
Dr McNamee AO was CSL’s CEO and Managing Director for 23 years before retiring more than four years ago in 2013. He led CSL from Australian Government ownership, through privatisation and listing on the Australian Securities Exchange to becoming a global industry leader. Since leaving his executive role at CSL in 2013, Dr McNamee has advised private equity group Kohlberg Kravis Roberts (KKR) on its global pharmaceutical and healthcare investments and acquisitions. He has also pursued a number of private start-up and company-making activities.
“I am extremely pleased to welcome Brian to the Board,” Professor Shine AC said. “He was a remarkable leader at CSL and is uniquely placed to lead the Board in working with CEO and Managing Director Paul Perreault and his executive team to continue driving CSL’s future.”
Dr McNamee AO said, “CSL has grown and evolved to another new level under Paul’s exceptional leadership. I am honoured to be appointed in this capacity and look forward to working with the Board and Paul. I offer my gratitude to John for the immeasurable contributions he has made.”
Mr Abbas Hussain
In his appointment as an independent Non-Executive Director, Mr Hussain brings additional global biotechnology industry insight to the CSL Board. Mr Hussain’s most recent executive role was Global President, Pharmaceutical at GlaxoSmithKline (GSK), where he managed GSK’s global pharmaceuticals and vaccine business across 150 markets including the US, Europe, Japan and emerging markets. He joined GSK as President, Emerging Markets & Asia Pacific in 2008. Prior to that he was President, Europe at Eli Lilly and during his time at Eli Lilly had senior roles with global responsibilities.
Mr Hussain is currently a Director of Immunocore Limited, a T cell receptor (TCR) company developing biological drugs to treat cancer, infectious diseases and autoimmune diseases. From 2009 to 2017, he was a Director of ViiV Healthcare Limited, a partnership between GSK and Pfizer established to deliver new options for the care and treatment of people living with HIV/AIDS, as well as previously serving on the Board of Aspen Healthcare, South Africa’s largest pharmaceutical company, and the Duke/National University of Singapore Medical School. Mr Hussain is a UK resident and he has a degree in Medicinal Chemistry & Pharmacology from Loughborough University in the UK.
Professor Shine AC said “I am delighted that we have been able to appoint Abbas Hussain to the CSL Board. His significant industry knowledge and extensive global experience, particularly in markets that CSL is keen to further expand into, will be of great value as we continue to grow and deliver on our promise to patients.”
CSL CEO and Managing Director Mr Paul Perreault said, “I look forward to working closely with Brian and Abbas. Their impressive experience will be additive as we continue to evolve and grow CSL as a fully integrated global biotechnology leader.”
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