Teva reported Wednesday that CEO Jeremy Levin will step down from his role to be replaced on an interim basis by current chief financial officer Eyal Desheh. The company noted that its board of directors has formed a committee to begin the search for a permanent successor.
A report earlier this week suggested that Levin, who was appointed as CEO last year, was considering resigning over differences with chairman Phillip Frost related to the implementation of the drugmaker's recent plan to cut 5000 jobs. According to the Channel 2 News report, Frost wants Teva to move ahead with the job reductions in Israel, where up to 800 employees could be affected, while Levin was looking to make the cuts in coordination with the the workers' union and a government ministry. At the time, Teva said the claim was "baseless." (Ver)
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