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Age : 52
Public asset : 2,145,543 USD
Linked companies : Mallinckrodt plc
Biography : Sigurdur Oli Olafsson is an Icelandic businessperson who has been the head of 6 different companies

Drugmaker Hikma's CEO Olafsson to step down

05/24/2022 | 03:44am EDT

(Reuters) -Hikma Pharmaceuticals said on Tuesday that Chief Executive Officer Sigurdur Olafsson would step down in late June to pursue other opportunities after four years at the London-listed generics drugmaker.

The news of Olafsson's exit comes weeks after the drugmaker cut the annual sales and margin forecasts for its generics unit.

Hikma shares, which have risen about 85% since Olafsson took the helm in February 2018, were down about 2% in early trade on Tuesday.

Before joining Hikma, Olafsson served as the chief executive of the global generics business of Israel-based Teva from 2014 to 2016.

The FTSE 100 firm said it has started the search for Olafsson's replacement and that Executive Chairman and former top boss Said Darwazah will take up the CEO role on an interim basis.

(Reporting by Sinchita Mitra in Bengaluru; Editing by Sherry Jacob-Phillips and Aditya Soni)

© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
FTSE 100 1.82% 7152.22 Delayed Quote.-2.06%
HIKMA PHARMACEUTICALS PLC 1.62% 1664.5 Delayed Quote.-26.18%