Peres to advise Teva

Shimon Peres photo: Mark Neiman

Former president of Israel Shimon Peres will provide consulting services to Teva for $10,000 monthly.

Former president of the State of Israel Shimon Peres is to advise Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA). Through his Peres & Associates company, Peres will provide consulting services to the Israeli pharmaceuticals company for $10,000 monthly, and will also earn an additional variable compensation component for individual projects

A source close to Peres said, "Teva has a framework agreement with Peres & Associates that will focus exclusively on the global arena. The principles governing the way in which the parties will work together have not yet been formulated. It has been agreed that if consulting services are provided in the future, the payment for them will be devoted to educational and social projects."

A few days ago, Peres announced that he was cancelling his contract with Bank Hapoalim (TASE: POLI), where he received $30,000 monthly for consulting services.

Published by Globes [online], Israel business news - www.globes-online.com - on April 26, 2015

© Copyright of Globes Publisher Itonut (1983) Ltd. 2015

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Shimon Peres photo: Mark Neiman
Shimon Peres photo: Mark Neiman
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