The South African pharmaceutical company, Adcock Ingram has announced changes and reorganisation to its board. This is to ensure the successful, long-term continuity of the strategic changes that have been implemented within the company over the last two years.
The operating structure has already been aligned with the new strategic direction of the company. Its major brands are showing good growth and the focus on customers, products and service has shown pleasing results. The company is now well positioned for its next phase of growth.
Joffe steps down as chairman
To ensure an enhanced focus on this next phase of the company’s development, and effective immediately, Clifford Raphiri, the current lead independent director, will take over from Brian Joffe as chairman. Joffe is assuming the role of deputy chairman allowing him to assist the executive team with its strategic growth initiatives.
Kevin Wakeford has resigned as CEO and has been replaced by the current deputy CEO, Andy Hall. Wakeford will re-join Bidvest Industrial Holdings in a senior management role after a phase out period of three months.
Incoming chairman, Raphiri comments: ‘I am very pleased to have been appointed chairman of Adcock Ingram and I look forward to building on what we have achieved over recent years. The handover between Kevin and Andy is underway, and with Andy’s long tenure of experience at Adcock Ingram, the transition will be seamless and without disruption.’
Profitability has been restored
Adcock Ingram outgoing chairman, Joffe adds: ‘As a board we express our appreciation to Kevin for his significant contribution to the company in a relatively short space of time. He has successfully re-structured the company and restored profitability. Kevin has achieved all the strategic imperatives that were set out for him by the board at the time of his appointment. I am delighted that Andy has accepted the position of CEO. Apart from spending eight years at Adcock Ingram, he is a qualified pharmacist and chartered accountant. His experience spans 25 years in the health care sector covering the retail, operational, financial and managerial disciplines. Andy will drive the next phase of growth and development for Adcock Ingram, and I look forward to assisting him with these initiatives.’
Additional leadership changes
Adcock Ingram’s group financial executive, Dorette Neethling, has been appointed acting chief financial officer, while a formal process is underway to fill the position.
Following the structural changes recently announced by the Bidvest Group, Lindsay Ralphs has resigned as a non-executive director of Adcock Ingram and has been replaced by David Cleasby.
Changes will be made to the various board committees and shareholders will be informed of these changes in due course.