Teva chairman to step down by year end
The chairman of Israel-based Teva Pharmaceutical Industries (NYSE: TEVA), the world’s largest generic drugs company, has indicated that he will step down from his position by year-end.
In a letter to shareholders posted with the Securities and Exchange Commission, Phillip Frost stated: “with the progress we have made, and continue to make, at Teva, I have advised the board that I believe it will be appropriate for me to step down as chairman approximately by the end of this year. Our Corporate Governance and Nominating Committee is working on a succession plan.”
He also noted that “corporate governance is a priority for the board, and we will continue to evaluate the size and composition of the board to ensure that we maintain dynamic, exceptionally qualified leadership,” and said that Teva's board has been reduced by a net two members, to 13 from 15.
This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.
Login to your accountTry before you buy
Free
7 day trial access
- All the news that moves the needle in pharma and biotech
- Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
- Receive The Pharma Letter daily news bulletin, free forever.
Become a subscriber
£820
Or £77 per month
- Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
- Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
- Daily roundup of key events in pharma and biotech.
- Monthly in-depth briefings on Boardroom appointments and M&A news.
- Choose from a cost-effective annual package or a flexible monthly subscription
The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed
Chairman, Sanofi Aventis UK
Today's issue
Company Spotlight
More Features in Generics
Copyright © The Pharma Letter 2024 | Headless Content Management with Blaze