- Teva Pharmaceutical Industries (TEVA) will reportedly appoint former director Erez Vigodman as its CEO this month to replace Jeremy Levin, who resigned in October amid a difference of opinion with the company's board over strategy.
- Vigodman is credited with turning around MA Industries when he was CEO of the generic crop protection company, while he has also held the top job at food company Strauss Group.
- Citi analyst Liav Abraham believes that even though Vigodman lacks pharmaceutical experience, the latter's track record would make him a good choice. This is relevant for Teva, "as the company faces the loss of exclusivity of Copaxone and implementation of an extensive $2B cost reduction program," Abraham wrote.
- Teva's shares are -0.3% in Tel Aviv.
Teva to appoint turn-around expert as CEO - report
Jan 2 2014, 05:33 ET