Riyadh – Mubasher: Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO) has appointed Jerome Cabannes as CEO starting 20 February.
Cabannes has been serving as Acting CEO since October 2023, previously holding the position of Chief Operating Officer at SPIMACO, according to a press release.
Moreover, SPIMACO unveiled a new organisational and leadership structure aimed at streamlining operations throughout the group to bolster operational excellence, sharpen commercial focus, and propel technological advancements.
Jerome Cabannes, CEO of SPIMACO, said: “These organizational changes mark a structural improvement at SPIMACO, enhancing our focus, alignment, and integration across all operations. This strategic enhancement positions us to become a more agile, lean, and profitable organization, primed for future growth.”
“The five-year strategy initiated in 2023 is unchanged, and remains rooted in accelerating organic growth, business development, and M&A, and this announcement marks a decisive step towards achieving our objectives. SPIMACO’s high standards of excellence and stakeholder value remain paramount,” Cabannes added.
SPIMACO registered a net profit of SAR 40.40 million during the first nine months (9M) of 2023, compared to net losses valued at SAR 67 million a year earlier.
