Directorate Change

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.

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Enquiries:

Hikma Pharmaceuticals PLC

Peter Speirs, Company Secretary                                           [phone]

Susan Ringdal, Investor Relations Director                              [phone]

Financial Dynamics                                                             [phone]

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.

 

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