Blood products giant CSL says it is hamstrung by almost 30-year-old provisions that prevent it from hiring more than a third of its directors from overseas.
Blood products giant CSL says it is hamstrung by almost 30-year-old provisions that prevent it from hiring more than a third of its directors from overseas, and restrict the voting rights of foreign shareholders.
“It creates complexity at the board level; we work diligently to get the best talent possible, no doubt it would be preferable to loosen these arrangements, but it’s a difficult political thing for them to consider,” he said. “I persuaded the government at the time that the overhang of the government retaining a shareholding when they are our regulator and customer was a hopeless situation because it put us in a difficult position, and we needed true, 100 per cent independence,” he said.
driven by plasma donation volumes returning to pre-pandemic levels for the first time since COVID-19. Despite coming under some pricing pressure, the business does not expect to push these costs on to customers, and is committed to looking for productivity improvements internally.“Of course we try to understand how and where and what opportunities we have for price increases, but we can’t be lazy like that,” Dr McNamee said.
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