Julphar chief executive officer Dr Ayman Sahli has decided to leave the company in the second quarter of this year, when his contract expires.

The Julphar board said it respects his wishes and has accepted his decision. The process to select his successor is underway.

Sheikh Faisal Bin Saqr Al Qasimi, chairman of Julphar, said: "We appreciate Dr Ayman’s outstanding service for more than eight years. Despite the challenging market conditions, Dr Ayman made a major contribution to Julphar and the company has achieved significant performance improvements and profitability under his leadership. On behalf of the board, I sincerely wish him well for the future."

"It has been a privilege to have had the opportunity to lead Julphar for the last decade and I am enormously proud of the accomplishments that have been made," said Dr Sahli. "The company has played such a positive role in my life. I am grateful for the support I have received from the Board of Directors and I express my heartfelt thanks to all employees for their dedication. I am confident that they will carry the company’s business forward to new heights."

Established in 1980, Julphar is the largest generic pharmaceutical manufacturer in Middle East and North Africa, producing over 200 branded products across its 15 manufacturing facilities. – TradeArabia News Service