Teva shakes up top management

Teva CEO: These changes are part of our ongoing process to build a premier leadership team and reshape Teva.

Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) today announced management changes to its executive leadership team.

Teva said that president and CEO Teva Americas William Marth was stepping down effective immediately and that he would retire at the end of 2013. Marth will serve as a senior advisor to Dr. Levin until his retirement.

Teva president and CEO Dr. Jeremy Levin said, We greatly appreciate the contributions that Bill has made to Teva over the years, most recently leading the Teva businesses in the Americas. During this time, the company experienced significant growth. We thank him for his tremendous service to the company and look forward to working with him over the next year in his new capacity as a core advisor.

Allan Oberman has been appointed president and CEO of Teva Americas Generics. He currently serves as Teva's senior VP North America generic pharmaceuticals. The company says that in his new role, Oberman will report directly to Levin, and that he will have continued responsibility for North America Generics as well as overall management of Tevas Latin American businesses.

The company also announced the appointment of Jill DeSimone to the newly created position of senior VP and general manager of Teva Global Womens Health. She will oversee all aspects of Teva's women's health franchise.

Levin added, These changes are part of our ongoing process to build a premier leadership team and reshape Teva. Allan brings extensive experience in global generics to the companys Americas teams. Jill brings a great track record and many years of experience in building franchises in specialty medicine. We look forward to her contributions in leading our Womens Health business. These changes underlie our commitment to build, in a disciplined fashion, a world class business and provide much needed medicines to patients around the world."

Published by Globes [online], Israel business news - www.globes-online.com - on November 5, 2012

Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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