Hikma Pharmaceuticals Plc Directorate Change (0642C)
March 12 2014 - 3:10AM
UK Regulatory
TIDMHIK
RNS Number : 0642C
Hikma Pharmaceuticals Plc
12 March 2014
Board and Executive Management Changes
London, 12 March 2014 - Hikma Pharmaceuticals PLC (LSE: HIK)
(DIFX: HIK) ("Hikma"), the FTSE 250 pharmaceuticals company, is
today announcing the following changes to its Board composition and
organisational structure.
Mazen Darwazah
Mazen Darwazah is to be promoted to the new position of
President and CEO of MENA and Emerging Markets. Mazen's additional
responsibilities will include taking operational control of the
MENA business and holding strategic responsibility for the
expansion of the Group into emerging markets outside of the MENA
region. Mazen will continue to deliver his existing
responsibilities for MENA strategy, global alliances, business
relationships, CSR and business integrity.
Said Darwazah said: "Mazen has been instrumental in the
development of the MENA business over the course of his 34 year
career with Hikma. The expansion of his role ensures that the Group
can continue to develop its strong presence in the MENA region and
push into high growth emerging markets, which are of critical
importance for the future of the Group. These additional
responsibilities are a perfect match for his exceptional skill set
and are a reflection of his excellent performance and commitment to
Hikma."
Bassam Kanaan
Bassam Kanaan is to be promoted to Chief Strategy &
Corporate Development Officer, with Group-level responsibility for
strategic development, acquisitions, alliances and product
development. Bassam will be responsible for delivering the
expansion vision of the CEO. The relevant group departments will
report to Bassam and he will chair the new Management Committee,
which supports the Executive Committee.
Said Darwazah said: "Bassam has performed outstandingly for his
entire Hikma career, first as CFO where he led the IPO process and
more recently in his operational role as President and COO of MENA
& EU, where he led implementation of important organizational
and operational improvements. His breadth of experience with Hikma
ensures that he has the right combination of strategic, leadership,
financial and pharmaceutical experience to lead the growth strategy
of the Group."
Pat Butler
The Board is pleased to confirm that with effect from 1 April
2014, Mr. Patrick (Pat) Butler is to join the Board as a
non-executive director. Pat will become a member of the Audit and
Remuneration Committees and the Compliance Responsibility and
Ethics Committee. It is anticipated that Pat will take over the
chairmanship of the Audit Committee in 2015.
Pat is a former Senior Director at Mckinsey & Co. During his
25 years at McKinsey, he focused on advising large corporations in
the EU, US and MENA on strategic, acquisition, and organisational
issues. He has extensive experience in strategy implementation,
integrating acquisitions, performance improvement and a range of
finance functions including treasury and risk management.
Prior to McKinsey Pat qualified as a Chartered Accountant with
the audit and tax practice of Arthur Andersen. He has a first class
honours degree in Commerce and a postgraduate diploma in Accounting
and Corporate Finance from University College Dublin.
Pat is a partner at The Resolution Group, non-executive director
of the Bank of Ireland and governor of the British Film Institute.
He also chairs the Investment Committee of the UK government's
Business Bank.
-- ENDS --
Enquiries:
Hikma Pharmaceuticals PLC
Peter Speirs, Company Secretary +44 (0)20 7399 2772
Susan Ringdal, Investor Relations Director +44 (0)20 7399 2760
Financial Dynamics +44 (0)20 7831 3113
Ben Atwell,Matthew Cole & Julia Phillips
Notes to Editors:
About Hikma
Hikma Pharmaceuticals PLC is a fast growing 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") region, where it is a market
leader, the United States and Europe. In 2013, Hikma achieved
revenues of $1,365 million and profit attributable to shareholders
of $212 million.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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