Teva appoints new European president and CEO

Teva has appointed Dr Rob Koremans as the new president and chief executive officer (CEO) of its European division.

Dr Koremans will take over the position in March 2012 when Dr Gerard van Odijk, the role's current occupant, steps down following a six-year tenure.

The new Teva Europe leader is the former CEO of Zentiva and was most recently the senior vice-president for generic strategy and development at Sanofi-aventis, meaning he will bring with him strong pharmaceutical industry experience.

Dr Koremans and Dr van Odijk will work in close cooperation over the coming months to ensure a smooth transition, with the outgoing CEO set to offer support for Teva's European business until the end of 2012.

Shlomo Yanai, president and chief executive officer of Teva, said: "I am very confident that Rob Koremans, together with our strong European management, will continue our success story across Europe."

This comes in the same week that the company announced a new $3 billion (1.9 billion pounds) share repurchase programme, underlining its current financial strength.