Teva Pharmaceutical Industries Ltd (TEVA)

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Teva CEO Israel Makov resigns
The reason for Makov’s resignation is not yet known. He will probably be replaced by Makhteshim Agan Industries Ltd. CEO Shlomo Yanai.

Gil Shlomo and Amir Keidan 18 Oct 06 14:15
Hebrew news site “Ynet” reports that Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) CEO Israel Makov is to step down from his post. He will probably be replaced by Makhteshim Agan Industries Ltd. (TASE: MAIN) CEO Shlomo Yanai. The changeover will probably take place during the first quarter of 2007. Teva is expected to notify the Tel Aviv Stock Exchange (TASE) of the change later today. The reason for Makov’s resignation is not yet known.
Makov, 67, joined Teva in 1995 as VP business development, and replaced Eli Hurvitz as CEO in 2002 when the latter became chairman. Under Makov, the company completed two major acquisitions, Sicor Pharmaceuticals, and Ivax Corp., making it the world’s largest generic drug company with a market cap that currently stands at $28.2 billion.

Published by Globes [online], Israel business news - www.globes.co.il - on October 18, 2006