Hikma Pharmaceuticals Plc (LON: HIK) has appointed Sigurdur Olafsson as chief executive, the company announced on Tuesday.

Subject to election at the next AGM in May, Olafsson will also join the company's board of directors as an executive director. The current chairman and CEO, Said Darwazah, will take on the position of executive chairman. The changes are effective immediately.

Olafsson brings substantial commercial and operational capabilities, having more than 25 years of pharmaceutical experience.

He has held many leadership roles at some of the world's largest generic pharmaceutical companies. Most recently, he served as president and CEO of the Global Generic Medicines Group of Teva Pharmaceuticals (TLV: TEVA). Prior to this, he was president of Actavis, executive VP of Global Generics at Actavis, and CEO of the Actavis Group.

He has served in numerous positions within the Actavis Group, such as deputy CEO, VP of corporate development, and CEO of Actavis Inc. He has also held numerous positions across Pfizer's (NYSE: PFE) global R&D business across the UK and US, and as head of Drug Development for Omega Farma in Iceland. He is currently a member of the board of directors for Elucida Oncology and Pfenex Inc.

In Olafsson's new role at Hikma he will be responsible for the effective development and execution of the company's corporate strategy, particularly focusing on opportunities to accelerate growth.