Finance
UK's Hikma CEO steps down, chairman takes helm until successor appointed
Published by Global Banking & Finance Review®
Posted on December 15, 2025
2 min readLast updated: January 20, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on December 15, 2025
2 min readLast updated: January 20, 2026
Hikma Pharmaceuticals' CEO Riad Mishlawi steps down amid manufacturing delays. Said Darwazah takes interim leadership as the company reaffirms 2025 guidance.
Dec 15 (Reuters) - Hikma Pharmaceuticals said Chief Executive Riad Mishlawi is stepping down by mutual agreement, marking a change of leadership as the British drugmaker grapples with manufacturing delays and margin pressures that have weighed on its share price.
Executive Chairman Said Darwazah, who is a former CEO of Hikma, will lead the company while the board searches for a permanent successor. Chief Financial Officer Khalid Nabilsi will join the board and take on expanded management duties to help deliver the group's strategic plans, the company said.
"The Board is confident in Hikma's future growth prospects under the experienced leadership of Said," Victoria Hull, Hikma's senior independent director, said in a statement.
Mishlawi is retiring after over 20 years at the generic drugmaker, including serving as president of its Injectables business since 2011 and CEO since September 2023.
During his tenure as CEO, Hikma shares have lost about 31% of their value. They fell over 1% in early trading on Monday, to their lowest levels since December 2022.
In November, the drugmaker trimmed its margin outlook and narrowed its 2025 profit guidance after pushing back the opening of its new U.S. factory in Bedford, Ohio to late 2027, citing equipment delays.
REAFFIRMS GUIDANCE
The leadership change also comes on the heels of Bill Larkins' departure as head of the injectables unit, a role Mishlawi had temporarily filled before his own exit. The division, which accounted for 42% of revenue last year, has faced particular pressure amid the manufacturing delays.
Hikma reaffirmed on Monday its 2025 guidance.
Darwazah has over 40 years of experience at Hikma and previously served as CEO from 2007 to 2018 and again from 2022 to 2023.
(Reporting by Raechel Thankam Job in Bengaluru; Editing by Mrigank Dhaniwala and Susan Fenton)
Corporate governance refers to the systems, principles, and processes by which a company is directed and controlled. It encompasses the relationships among the stakeholders and the goals for which the corporation is governed.
Manufacturing delays occur when production processes are slowed down or halted due to various factors, such as equipment issues, supply chain disruptions, or labor shortages, impacting the timely delivery of products.
Margin pressure refers to the reduction in profit margins that companies experience due to rising costs or competitive pricing pressures, which can affect overall profitability.
A CFO, or Chief Financial Officer, is a senior executive responsible for managing the financial actions of a company, including tracking cash flow, financial planning, and analyzing the company's financial strengths and weaknesses.
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