In the first departure from the senior management of Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) since Erez Vigodman became CEO last month, Ika (Isaac) Abravanel has resigned. Abravanel joind Teva from Bezeq Israeli Telecommunication Co. Ltd. (TASE: BEZQ) in 2007, and was appointed Executive Vice President Teva Corporate in Israel and Global Community Alliances in September 2013. He was joint chairman of the steering committee for the joint venture with Procter and Gamble in non-prescription drugs.
Abravanel was at the forefront of the moves to carry out extensive layoffs at Teva. "If we don't downsize, our leadership is in question," he said of the company's announcement that it would dismiss 10% of its workforce, some 5,000 people.
In announcing that he would leave the company, Abaravanel said today that he wished to follow an independent course. He began his career at Teva as Corporate Vice President, Human Resources, and was responsible for reorganizing the company's global human resources system. In addition to this, in 2009, he became Chief Integration Officer.
Teva president and CEO Erez Vigodman said today, "Ika's varied experience and the leadership qualities with which he is gifted have been of immense value to Teva over the years. I respect the way in which he has made the decision to pursue an independent career. I thank him for the years of professional and dedicated work, and wish him continued success and personal fulfilment in his new course."
Published by Globes [online], Israel business news - www.globes-online.com - on March 6, 2014
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