(Alliance News) - Hikma Pharmaceuticals PLC on Wednesday said it has appointed Riad Mishlawi as chief executive officer, effective September 1, allowing Said Darwazah to step down as acting CEO and return to his role as executive chair.
The London-based pharmaceutical company said it promoted Mishlawi from his current role as president of the group's Injectables business since 2011, and will bring his "deep knowledge of Hikma and the pharmaceutical industry", alongside a "strong track record" of delivering profitable growth and strategic expansion.
Under Mishlawi's leadership, Hikma said the Injectables arm delivered 12% compound annual growth, expanding across the US, Europe and the Middle East North Africa region through strong organic growth, acquisitions and commercial partnerships.
"Following an extensive, global search, I am very pleased that Hikma's board of directors has appointed Riad as Hikma's new CEO. The board believed that Riad was the standout candidate, an exceptional operator with a proven track record of execution and delivery as well as an excellent understanding of our business and the wider industry," said acting CEO Darwazah.
"Hikma will benefit from his strategic insight, operational focus and ability to execute against our strategy. I am confident that under his leadership, Hikma will continue to deliver long-term growth and value for all our stakeholders and I look forward to working closely with him in his new role."
Shares in Hikma were down 0.9% at 1,756.50 pence each in London on Wednesday morning.
By Greg Rosenvinge, Alliance News reporter
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Hikma Pharmaceuticals (HIK)