Teva names Erez Vigodman as CEO

|About: Teva Pharmaceutical Indus... (TEVA)|By:, SA News Editor

As expected, Teva (TEVA) has appointed board director Erez Vigodman as CEO to replace Jeremy Levin, who resigned in October.

Vigodman has been CEO of MA Industries, the world's largest generic agrochemical company, since 2010. He led the firm's return to profitability by improving its day-to-day operations and investing in organic growth.

Prior to that, Vigodman headed food company Strauss Group, whose sales doubled under his tenure.

The challenges he faces at Teva include Copaxone's upcoming patent expiration and the implementation of a $2B cost-reduction program.

Shares are -0.55% in Tel Aviv. (PR)