Hikma appoints former Teva executive as CEO

Hikma appoints former Teva executive as CEO

7:49 AM, 20th February 2018
Sigurdur Olafsson
Sigurdur Olafsson was most recently president and CEO of global generic medicines group of Teva Pharmaceuticals.

LONDON, UK: Hikma Pharmaceuticals Plc (HIK) has appointed Sigurdur (Siggi) Olafsson as chief executive officer (CEO). Said Darwazah, Hikma’s current chairman and CEO, will assume the position of executive chairman. These changes are effective immediately.

Olafsson was most recently president and CEO of global generic medicines group of Teva Pharmaceuticals, a position he held from 2014 to 2016.

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.

With over 25 years of diverse pharmaceutical experience, 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, the company said.

As CEO, Olafsson will be responsible for the effective development and execution of Hikma’s corporate strategy, focusing on opportunities to accelerate the growth of the global business. All members of Hikma’s executive committee will report to Olafsson, who will report to Darwazah. He will initially be based in the US before relocating to Hikma’s head office in London, UK.

As executive chairman, Said will lead the board of directors. He will guide, oversee, and engage with the CEO in setting and delivering the strategic vision for the company and optimising the company’s long-term potential.

“We are delighted that Olafsson is joining Hikma as our new CEO. 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,” said Said Darwazah.

“I am looking forward to leading the Hikma team, building on the strong legacy the business has established, particularly in the US and MENA. 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,” said Olafsson.

“I am very pleased that Olafsson is joining Hikma. This is a pivotal time for Hikma as we embark on our next chapter. The board and I are confident that Olafsson and Said, working together, will significantly enhance our ability to execute our strategy and deliver long-term sustainable growth,” said added Pickering, Hikma’s senior independent non-executive director.

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