Dec 15 (Reuters) – British generics drugmaker Hikma Pharmaceuticals said on Monday its CEO Riad Mishlawi is stepping down, with Executive Chairman and former CEO Said Darwazah assuming responsibilities of the top role.
The leadership change comes after the company cut its profit and revenue targets in November and delayed the launch of its new U.S. factory, which had sent its shares to a near three-year low.
Hikma also said Chief Financial Officer Khalid Nabilsi would join its board and take on expanded management duties to help deliver the group’s strategic plans.
The group said it will begin a search for a new CEO in due course and reaffirmed its 2025 guidance.
(Reporting by Raechel Thankam Job in Bengaluru; Editing by Mrigank Dhaniwala)
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