Teva's new CEO-elect to take up post November 1; Lundbeck filling the space

31 October 2017

Israel’s Teva Pharmaceutical Industries (NYSE: TEVA) today announced that Kåre Schultz will join the company as president and chief executive, effective November 1, 2017.

As previously announced on September 11 – when no starting date could be provided, Mr Schultz, who was chief executive of Danish CNS specialist Lundbeck (LUN: CO), will succeed Dr Yitzhak Peterburg, who is serving as interim CEO. The generics giant has been pretty much rudderless since Erez Vigodman quit the CEO post in February.

"Kåre Schultz joining is the start of a new chapter at Teva," said Dr Sol Barer, chairman of Teva's board of directors. "Kåre has extensive global pharmaceutical experience and a strong track record in corporate turnarounds, as well as in driving growth and leading international expansion. Under Kåre's leadership, we can position Teva for long-term success and deliver on our promises to shareholders, employees and patients around the world."

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