Larry Marshall is to replace current chief executive Megan Clark in early 2015.

The Commonwealth Scientific and Industrial Research Organisation (Csiro), Australia’s federal government agency for scientific research, has appointed Larry Marshall as its new chief executive. He will be replacing current chief executive Megan Clark in January 2015.

Clark has been serving in the position for the past six years and will be stepping down at the end of December 2014. Although Clark leaves the agency in a good position, Marshall will be facing an uphill battle as the Australian government is cutting down on its science budget. As a result of the budget cuts, the organisation will lose 10% of its 6,600 staff and there is no Minister for Science anymore to fight its corner.

Marshall is currently Managing Director of Southern Cross Venture Partners, an early stage venture capital firm specialising in creating Australian technology companies and growing them globally in Asia and the United States.

Marshall has a strong background in research and entrepreneurship, with more than 100 publications and 20 patents to his name. He has served on the boards of 20 different companies, and has raised in excess of $100m of funding. He also personally founded six companies in the US in the sectors of biotech, photonics, telecommunications and semiconductors.

Simon McKeon, chairman at Csiro, said: “Dr Marshall has an impeccable record as a scientist, a technology innovator and business leader. His wealth of experience in developing and applying science and technology makes him an excellent fit. The chief executive of CSIRO is probably the most important position in national science administration, so we conducted an extensive global search for an innovative scientist with strong business leadership qualities, and more than 70 candidates were considered. Dr Marshall combines commercial and scientific credentials with extensive global experience, making him the world class leader we were seeking for CSIRO. The board is confident that Dr Marshall will lead CSIRO in a manner which ensures that it continues to provide advice of the highest quality to government as well as provide best practice collaboration with the private sector.”