Tuesday, January 03, 2012

Teva getting its first non-Israeli CEO as Shlomo Yanai resigns

Five years after taking the job, Teva Pharmaceutical Industries CEO Shlomo Yanai has announced his resignation, marking the end of a tenure in which the company failed to diminish its dependence on profit from flagship multiple sclerosis drug Copaxone.

Yanai will be replaced in May by Bristol-Myers Squibb executive Jeremy Levin, the first non-Israeli to lead the company. Yanai, 59, wanted "to move on to a new phase in his career," Teva said yesterday.

Posted via email from Jack's posterous

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