Less than a week after Jeremy Levin resigned as CEO of Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA), another reason for the move has emerged - and it may be the main reason: an investigation of leaks from the board of directors that he instituted.
Six months ago, Levin demanded an investigation, which was carried out by Wizman Yaar Investigations. As part of the investigation, Israeli directors at Teva underwent polygraph tests and were questioned about telephone conversations, which were shown to them.
Every candidate to succeed Teva chairman Phillip Frost, and every person who considered himself to be a candidate, was required to participate in the investigation. Although the wide-ranging investigation of Teva staff was carried out with the board's consent, senior directors told "Channel 2" that they had no choice in the matter in order not to be considered as suspects. When the investigation was completed, the leaker was discovered and exposed.
Teva said in response, "The departure of Jeremy Levin was carried out with the agreement of the parties. Any other speculation is untrue."
Levin was unavailable for comment, and Wizman Yaar Investigations declined to respond.
Published by Globes [online], Israel business news - www.globes-online.com - on November 5, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013
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