Teva Pharma replaces CEO

21 November 2022

A couple of months ago, Teva Pharmaceutical Industries’ (NYSE and TASE: TEVA) chief executive Kåre Schultz indicated that he will not renew his contract as chief executive come November 2023, as the Israeli generics giant revealed plans to finalize its $4.35 billion national opioid settlement by the end of the year and start paying up in 2023, as well as reporting a loss in three out of the last four quarters.

Today, Teva announced that he would be leaving the company at the end of December this year and named a successor.

The company’s board of directors has appointed Richard Francis as president and CEO, effective January 1, 2023.

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