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AAP
AAP
Business
Kaaren Morrissey

Biotech giant's shares dive after CEO's shock departure

CSL shocked the market when it suddenly announced its CEO was leaving. (James Ross/AAP PHOTOS)

Australia's largest biopharmaceutical company has posted a massive slump in interim profit, pushing its shares to an eight-year low after the sudden retirement of its chief executive.

CSL's first-half net profit fell 81 per cent to $US401 million ($A567 million), after government policy changes, one-off restructuring costs and impairments severely impacted its bottom line.

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