Said Darwazah, Hikma’s Executive Chairman and former CEO, will assume all CEO responsibilities, enabling Hikma to continue delivering its strategy.
Siggi will remain available to the Group until he departs on 24 June 2022.
Said will continue to work closely with the Executive Committee, including Hikma’s three divisional presidents, benefiting from their significant experience and strong management teams.
Concurrently, Hikma’s Board has initiated an externally facilitated process to identify a new CEO.
Said Darwazah said: “On behalf of Hikma’s Board and the entire Group, I would like to thank Siggi for his leadership over the past four years.
Together with the Executive Committee, he has worked tirelessly to drive strategic momentum across all three businesses, especially during the challenging days of the pandemic.
Hikma is on a strong footing and well positioned for future growth, and we wish Siggi well for the future”.
Siggi Olafsson said: “It has been a privilege to work for Hikma, and I am proud of what the entire team has achieved during my tenure.
I would like to thank the Board for their confidence in me throughout the past four years.
I would also like to thank my colleagues around the world for their exceptional hard work and commitment.
I believe that Hikma has an exciting future and I look forward to seeing the business go from strength to strength.”