Hikma Pharmaceuticals Plc Directorate Change (8939V)
April 12 2023 - 2:00AM
UK Regulatory
TIDMHIK
RNS Number : 8939V
Hikma Pharmaceuticals Plc
12 April 2023
Riad Mishlawi named Chief Executive Officer of Hikma
Pharmaceuticals PLC
London, 12 April 2023 - Hikma Pharmaceuticals PLC (Hikma,
Group), announces that Riad Mishlawi, President of the Group's
Injectables business, has been appointed Chief Executive Officer
(CEO), effective 1 September 2023. Thereafter, Said Darwazah will
step down as acting CEO and return to his role as Executive
Chairman.
As CEO, Riad will bring his deep knowledge of Hikma and the
pharmaceutical industry and a strong track record of delivering
profitable growth and strategic expansion. Since 2011, Riad has
served as President of Injectables. Under his leadership, the
Injectables business has delivered a compound annual growth rate of
12% and expanded across the US, Europe and the MENA region through
strong organic growth, acquisitions and commercial partnerships.
Riad has significantly expanded the Injectables product portfolio
and manufacturing footprint while maintaining a sharp focus on
quality and efficiency, helping to transform the Injectables
business into the recognized market leader that it is today.
Since joining Hikma in 1990, Riad has held various positions of
increasing responsibility including Head of Manufacturing
Operations at the Group's former Generics facility in Eatontown,
New Jersey. He left Hikma in 1998 to join Watson Pharmaceuticals,
where he was Executive Director of Operations. Riad returned to
Hikma in 2004 and held a series of positions in the Group's
Injectables business including General Manager of Hikma's
injectable facilities in Italy and Portugal and Head of European
Operations.
Riad will take up the role of CEO and join Hikma's Board of
Directors on 1 September 2023 following a transition period. He
will relocate from Portugal to Hikma's US headquarters in Berkeley
Heights, New Jersey.
Hikma Executive Chairman Said Darwazah said: "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.
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."
Riad Mishlawi said: "It is an honour to be appointed as Hikma's
CEO. I am grateful for the opportunity to lead a team of talented
individuals towards achieving our shared vision and goals. I am
confident that as we continue to innovate and grow together we can
create a positive impact in our industry, deliver exceptional
results for our shareholders and make a meaningful difference in
the lives of our patients. I am excited about the future and the
possibilities that lie ahead."
Notes to Editors
Riad Mishlawi will be appointed Hikma Chief Executive on 1
September 2023.
CEO Remuneration
Riad will receive a base salary of $1 million, a pension
contribution of 10% of salary, in line with the wider workforce,
and relocation support. He will also be eligible to receive an
annual bonus and longer-term incentive awards, all in line with
Hikma's proposed remuneration policy.
Full details of his remuneration arrangements will be set out in
the 2023 Directors' remuneration report.
Regulatory disclosures
There are no additional matters that require disclosure under
9.6.13R of the UK Listing Rules.
This announcement contains inside information. The person
responsible for the release of this announcement on behalf of Hikma
is Helen Middlemist (Deputy Company Secretary).
- ENDS -
Enquiries
Hikma (Investors):
Susan Ringdal
EVP, Strategic Planning and Global +44 (0)20 7399 2760/ +44 (0)7776
Affairs 477050
Guy Featherstone +44 (0)20 3892 4389/ +44 (0)7795
Associate Director, Investor Relations 896738
Layan Kalisse +44 (0)20 7399 2788/ +44 (0)7970
Senior Associate, Investor Relations 709912
Teneo (Press):
Charles Armitstead +44 (0)7703 330 269
About Hikma
(LSE: HIK) (NASDAQ Dubai: HIK) (OTC: HKMPY) (rated BBB-/stable
S&P and BBB-/stable Fitch)
Hikma helps put better health within reach every day for
millions of people around the world. For more than 40 years, we've
been creating high-quality medicines and making them accessible to
the people who need them. Headquartered in the UK, we are a global
company with a local presence across the North America, the Middle
East and North Africa (MENA) and Europe, and we use our unique
insight and expertise to transform cutting-edge science into
innovative solutions that transform people's lives. We're committed
to our customers, and the people they care for, and by thinking
creatively and acting practically, we provide them with a broad
range of branded and non-branded generic medicines. Together, our
8,800 colleagues are helping to shape a healthier world that
enriches all our communities. We are a leading licensing partner,
and through our venture capital arm, are helping bring innovative
health technologies to people around the world. For more
information, please visit: www.hikma.com
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