Hikma Pharmaceuticals announces Siggi Olafsson to its Board as CEO alongside Said Darwazah as Executive Chairman

– UK, London – Hikma Pharmaceuticals PLC (LSE: HIK) (DIFX: HIK) today announces its Board of Directors has appointed Sigurdur (Siggi) Olafsson as Chief Executive Officer. Mr Olafsson 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. These changes are effective immediately.

With over 25 years of diverse pharmaceutical experience, Mr Olafsson brings substantial commercial and operational capabilities and has a strong track record of driving performance and delivering growth. He has held many leadership roles at some of the world’s largest generic pharmaceutical companies.

“We are delighted that Siggi is joining Hikma as our new CEO,” said Said Darwazah. “He brings a wealth of pharmaceutical and leadership experience and we are confident that his deep sector knowledge, paired with his proven ability to drive growth, will help us achieve our ambitions for the business.”

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 Mr 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, Said 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 Company’s long-term potential.

“I am very pleased that Siggi is joining Hikma,” said Robert Pickering, Hikma’s Senior Independent Non-Executive Director. “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.”

About Hikma

Hikma Pharmaceuticals PLC is a pharmaceutical group focused on developing, manufacturing and marketing a broad range of both branded and non-branded generic and in-licensed products. Hikma’s operations are conducted through three businesses: ‘Branded’, ‘Injectables’ and ‘Generics’ based primarily in the Middle East and North Africa (MENA), the United States and Europe.

For more information : http://www.hikma.com

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