Teva names new president and chief executive officer

Teva has concluded its extensive search for a new permanent president and chief executive officer (CEO) with the appointment of Kare Schultz to the role.

Mr Schultz is a healthcare industry veteran with nearly 30 years of experience leading global pharmaceutical and healthcare companies. He most recently served as president and CEO of Lundbeck, while prior to this he was chief operating officer of Novo Nordisk.

During his time leading Lundbeck, he was credited with overseeing significant restructuring initiatives and launching a robust turnaround strategy, putting the company on track to achieve all-time high revenue and earnings.

The new Teva CEO will succeed Dr Yitzhak Peterburg, who will continue to serve as interim CEO until Mr Schultz relocates to Israel to take up his position.

Dr Sol Barer, chairman of Teva's board of directors, said: "We are pleased to welcome a world-class leader of Kare's stature to Teva and look forward to working closely with him to build the Teva of the future for shareholders, employees and patients around the world."

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