CSL Ltd Annual Report 2020

Directors’ Report The Board of Directors of CSL Limited (CSL) has pleasure in presenting their report on the consolidated entity for the year ended 30 June 2020. 1. Principal Activities, Strategy and Operating Model The principal activities of the consolidated entity during the financial year were the research, development, manufacture, marketing and distribution of biopharmaceutical and allied products. CSL is a leader in global biotechnology, and develops and delivers innovative medicines that saves lives, protects public health and help people with life threatening medical conditions to live full lives. CSL’s strategy is delivered through its five strategic objectives for 2030: focus, innovation, efficiency and reliable supply, sustainable growth and digital transformation. More detail on CSL’s performance against its 2020 strategic objectives can be found in Strategy and Performance. CSL’s operating model for its two businesses, CSL Behring and Seqirus, leverage multifunctional teams that connect to share best practice. CSL’s operating model is based around four key value creation activities: early stage research, product translation, manufacturing and patient access. CSL’s commercial and functional areas operate at a global level, with the Global Leadership Group responsible for the day-to-day management of the group and delivery of CSL’s strategic objectives. More detail on CSL’s operations can be found in Our Company and Strategy and Performance. 2. Operating and Financial Review CSL discloses financial performance primarily by business. This provides the most meaningful insight into the nature and financial outcomes of CSL’s activities and facilitates greater comparability against industry peers. Information on the operations and financial position for CSL is set out in the Operating and Financial Review (OFR). The OFR comprises of the Chairman and CEOmessage, Strategy and Performance, Our Company, Our Material Risks and Outlook accompanying this Directors’ Report. 3. Directors The directors who served at any time during FY2020 or up until the date of this Directors’ Report were Dr Brian McNamee AO, Mr Paul Perreault, Professor Andrew Cuthbertson AO, Mr Bruce Brook, Ms Carolyn Hewson AO, Dr Megan Clark AC, Mr Abbas Hussain, Ms Marie McDonald, Ms Christine O’Reilly and Dr Tadataka Yamada KBE. Further details of the current directors are set out in the Governance section of CSL’s 2019/20 Annual Report or CSL’s website, CSL.com. These details include the period for which each director held office up to the date of this Directors’ Report, their qualifications, independence, experience and particular responsibilities, the directorships held in other listed companies since 1 July 2017 and the period for which each directorship has been held. Dr Tadataka Yamada KBE served as a Non-executive Director of CSL from September 2016 until his retirement on 16 October 2019. Ms Carolyn Hewson AO was appointed as a Non-executive Director of CSL with effect from 9 December 2019. Mr Pascal Soriot was appointed as a Non-executive Director of CSL with effect from 19 August 2020. 4. Company secretaries Ms Fiona Mead, B.Com/LLB (Hons) FGIA, GAICD, was appointed and commenced in the position of Company Secretary and Head of Corporate Governance on 4 June 2018 and continues in office as at the date of this report. Ms Mead was previously the Company Secretary and a member of the Executive Leadership Team at Tabcorp Holdings Limited. Prior to that, she was the Company Secretary at Asciano Limited. Ms Mead also served as Assistant Company Secretary at Telstra Corporation. Mr John Levy served as an Assistant Company Secretary from 16 August 2011 until his resignation from this position on 8 August 2019. CSL Limited Annual Report 2020 62