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Troubled Teva Appoints New CEO In Bid For Direction

Teva Pharmaceutical Industries, Ltd. on September 11, 2017, appointed Kåre Schultz to become the company’s president and chief executive officer, tasked with setting up the Israeli firm’s strategy, divesting assets, cutting its debt and restoring investor confidence.

Teva’s shares were trading seven percent higher at 11.01 a.m. in Tel Aviv after the news was released. Schultz, 56, has a nearly 30-year career in global pharmaceutical and healthcare companies and most recently served as the president and CEO of Denmark’s H. Lundbeck A/S, where he led restructuring initiatives and launched a turnaround strategy.

 

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