Actavis CEO steps down

Actavis generic pharmaceuticalsRobert Wessman has today stepped down as the CEO of Actavis, one of the world’s leading international generic drug companies.

He will be replaced by the Deputy CEO, Sigurdur Oli Olafsson. Actavis has said in a press release that Robert Wessman will focus more on his investment company, Salt Investments, but will continue to serve on the Actavis Board of Directors.

Sigurdur Oli Olafsson joined Actavis in 2003, after working for Pfizer UK from 1998 and moving to Pfizer US in 2001 to take a post in Global Research and Development. Prior to that, he served as Marketing Manager of Omega Farma (now part of Actavis), later becoming its Drug Development Manager. Olafsson became the Managing Director of Actavis Inc. in the US in 2003. He became Chief Executive of Corporate Development in 2004 and Chief Executive of Sales & Marketing International in 2005. He has been Deputy CEO since 2006.

Chairman of Actavis, Bjorgolfur Thor Bjorgolfsson, said: “Mr. Wessman has played an important role in shaping and realising Actavis’ vision and executing its successful strategy for growth. Under his management the company has become one of the five leading generic pharmaceutical companies in the world.“

Outgoing CEO Robert Wessman said, “The past years at Actavis have been a true adventure. I’m proud to look back at the tremendous growth of the company. Actavis is now in a solid position as a major global generic pharmaceutical player. I would like to thank the whole Actavis team for the partnership. This incredible group of people has in my mind pulled off an amazing achievement. I now look forward to moving on to new challenges where I will focus on my investment company, Salt Investments, that has been growing very fast during the past year.”

The new CEO of Actavis, Sigurdur Oli Olafsson, said, “Actavis is currently in a strong position among the top five generic pharmaceutical companies in the world. It is important to continue the remarkable Actavis growth story, so the position at the helm is an enormous responsibility to assume. I’m ready for the challenge and look forward to continuing work with our 11-thousand employees on the continued success of the Group.“

Olafsson went on to say; “Demand for generic pharmaceuticals is on the rise globally, independent of economic cycles. The development of new generic pharmaceuticals is among Actavis’ major strengths and I consider it one of our top priorities to use it to further strengthen our position in our key markets in Europe, North-America and Asia.”

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