Hikma Pharmaceuticals has appointed Sigurdur (Siggi) Olafsson as Chief Executive Officer (CEO), who will also join Hikma’s Board of Directors as an executive director, subject to election at the next annual general meeting in May 2018.
Said Darwazah, Hikma’s current Chairman and CEO, will assume the position of Executive Chairman.
As CEO, Mr Olafsson will be responsible for the effective development and execution of Hikma’s corporate strategy, focusing on opportunities to accelerate growth of the global business. All members of Hikma’s Executive Committee will report to Mr Olafsson, who will report to Mr Darwazah. He will initially be based in the US before relocating to Hikma’s head office in London.
“I am looking forward to leading the Hikma team, building on the strong legacy the business has established, particularly in the US and MENA,” said Olafsson. “I share Said’s confidence in the future of this business, and believe that we have the potential to deliver substantial value to our customers, employees, investors and the wider community.”
As Executive Chairman, Darwazah will lead the Board of Directors. He will guide, oversee, and engage with the Chief Executive in setting and delivering the strategic vision for the company and optimising the its long-term potential.
Robert Pickering, Hikma’s Senior Independent Non-Executive Director, said: “This is a pivotal time for Hikma as we embark on our next chapter. The Board and I are confident that Siggi and Said, working together, will significantly enhance our ability to execute our strategy and deliver long-term sustainable growth.”