David Thodey AO, Chair of the CSIRO Board, commended Dr Marshall's achievements.
"CSIRO plays an important and unique role in the lives of all Australians as the national science agency. Recent events have brought this into sharp focus, including the devastating bushfires and COVID-19. CSIRO is a great Australian institution that helps our nation respond to our changing world, anticipate the future, and deliver great science and research that benefits society, the environment, and the economy," Mr Thodey said.
"Over the last five years, Larry's leadership of CSIRO has seen our impact on Australia grow. We have seen significant progress across a number of areas including: growth in economic benefit for Australia from CSIRO's science; a ten-fold increase in CSIRO's equity portfolio; a capable and engaged team of scientists and researchers committed to serving our nation; and the highest number of partnerships with industry for 30 years."
Dr Marshall introduced 'Strategy 2020' shortly after joining the organisation to focus CSIRO towards continued science excellence, while aiming to amplify the delivery of solutions from science - translating endeavour to initiatives that put science in the hands of the community, business and the public.
"The Board thanks Larry and CSIRO's 5,500 people for their achievements over the past five years. Under Larry's leadership, our vision for the future of CSIRO will ensure our world-class scientific and research organisation continues to make an impact. We are delighted that Larry has agreed to lead the organisation in the next chapter of its history," Mr Thodey said.
Minister for Industry, Science and Technology Karen Andrews thanked Dr Marshall for his passion in leading CSIRO.
"The role of science and the work of the national science and industrial research agency has never been more crucial after the summer of bushfires and during the COVID-19 pandemic," Minister Andrews said.
"I look forward to continuing to work with Dr Marshall across a range of important areas of science and industry research which will benefit all Australians."
Commenting on his reappointment, Dr Marshall thanked "Team CSIRO" for their commitment and passion.
"It's a privilege to lead an organisation trusted by so many Australians. Our people are inspiring – committed to creating a better future for all Australians," Dr Marshall said.
"While we have achieved much, there is more to deliver as we emerge from the current crisis. Our focus on delivering real solutions from science will help Australia grow to even greater strengths, just as we have seen before over CSIRO's 100-year legacy."
