India's Sun Pharmaceutical Industries Ltd. (BSE: 524715), which controls Israel's Taro Pharmaceutical Industries Ltd. (Pink Sheets: TAROF), has appointed Israel Makov as chairman. Makov previously served as president and CEO of Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA), before Shlomo Yanai who himself recently resigned.
Sun Pharmaceuticals said, Makov, "is among Israel’s most respected corporate leaders, and is widely credited with Teva’s emergence as a global company and a world leader in generic pharmaceuticals."
Sun Pharmaceuticals managing director Dilip Shanghvi said, "I welcome Mr. Makov on behalf of the entire board and the larger Sun Pharma team. He is an exceptional leader with deep knowledge and experience in globalizing businesses successfully. As Sun Pharma continues to rapidly expand its presence worldwide, I am sure that we will benefit immensely from his experience."
Makov said, "I am happy to accept the position of chairman of the board. Sun Pharma is an exciting company poised for substantial global expansion and I look forward to working together with Dilip and his team in realizing their visionary goals."
Makov is currently chairman of Given Imaging Ltd. (Nasdaq: GIVN; TASE: GIVN), Bio-Light Israeli Life Sciences Investments Ltd. (TASE:BOLT), Micromedic Technologies Ltd. (TASE:MCTC), and Eltav Wireless Monitoring Ltd., a developer of wireless monitoring of industrial valves.
News of Makov's appointment pushed Sun's share price up 8% on the Mumbai Stock Exchange.
Published by Globes [online], Israel business news - www.globes-online.com - on May 30, 2012
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