Hikma brings on former Teva generics leader as CEO

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Hikma brings on former Teva generics leader as CEO

By David Salazar - 03/06/2018
Generics maker Hikma Pharmaceuticals has brought on Sigurdur Olafsson as its CEO, effective immediately. Olafsson brings to the position more than 25 years of pharmaceutical industry experience, including his two years as president and CEO of global generic medicines at Teva from 2014 to 2016.

“We are delighted that Siggi is joining Hikma as our new CEO,” said Said Darwazah, who will transition to executive chairman from his current role as chairman and 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.”

In his role, Olafsson will oversee development and execution of Hikma’s corporate strategy with a focus on growth opportunities. In his new role, Darwazah will oversee and guide the CEO in exeuting his strategic vision for the company, as well as optimize the company’s long-term potential, Hikma said.

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

Olafsson is set to join Hikma’s board of directors, subject to election at its next meeting in May 2018.

“I am very pleased that Siggi is joining Hikma,” Hikma senior independent non-executive Robert Pickering 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.”




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