Hikma Pharmaceuticals Governance Journey

Case Solution

Lynn Sharp Paine, Suraj Srinivasan, Gamze Yucaoglu
Harvard Business School ()

The case begins with Said Darwazah, president and CEO of Hikma Pharmaceuticals, the multinational generics company, anticipating the company’s annual general meeting in 2017 and considering changes made the previous year to address the concerns of proxy advisors and some shareholders on Hikma’s dependence on a joint chairman. / CEO position, the long tenure of some directors and the company’s focus on executive compensation. The case describes Hikma’s origins as a Jordanian pharmaceutical company founded by Darwazah’s father in 1978, and traces the evolution of his leadership as a private family-owned company, then as a public company listed on the London Stock Exchange in 2005. , and finally as a member of the FTSE. after 100, starting in March 2015. Darwazah is confident that shareholders will approve changes to the company’s Executive Incentive Plan (EIP) and steps to accelerate the turnover of directors with many years of service prior to the 2017 AGM, but wondering how long the company will be able to proceed with a combined chairman / CEO and more generally combine the high levels of governance expected by shareholders with the entrepreneurial spirit that has driven growth and Hikma development.

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