REG - Hikma Pharmaceutical - Directorate Change

Hikma PharmaceuticalsAnnouncement

12/04/2023 07:00

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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                                             +44 (0)20 7399 2760/ +44 (0)7776 477050

 EVP, Strategic Planning and Global Affairs
 Guy Featherstone                                          +44 (0)20 3892 4389/ +44 (0)7795 896738

 Associate Director, Investor
 Relations
 Layan Kalisse                                             +44 (0)20 7399 2788/ +44 (0)7970 709912

 Senior Associate, Investor Relations

 

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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