Teva names new president, CEO

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Teva names new president, CEO

By David Salazar - 09/11/2017

JERUSALEM — Teva has a named its next leader. The company on Monday announced the appointment of Kåre Schultz as its president and CEO, who will take over the position from Dr. Yitzhak Peterburg.

“With extensive global pharmaceutical experience, a strong track record executing corporate turnaround strategies, driving growth and international expansion at low incremental cost and delivering on promises to shareholders, as well as a commitment to a culture of compliance, Kåre is the right leader to take Teva to the next level,” Teva chairman Dr. Sol Barer said. “Kåre has deep insight into the global pharmaceutical industry and a keen knowledge of the generic and specialty drug markets. His proven strategic, financial and operational capabilities and his strong commitment to growth will enhance value for all stakeholders and position Teva for long-term success.”

Schultz has had a nearly 30-year career in the pharmaceutical and healthcare industries. He was most recently president and CEO of H. Lundbeck, where he oversaw the company’s restructuring initiatives and its turnaround strategy focused on driving a sustainable global cost structure and operational model. Before working with H. Lundbeck, Schultz was with Novo Nordisk, where he worked for nearly three decades in various roles, eventually becoming COO, playing a large role in modernizing the company’s large-scale biologic production and overseeing its expansion into the U.S. and Chinese markets

“I am honored to join Teva, an iconic company that I have long admired during my career,” Schultz said. “What drew me to Teva, and what makes Teva different from its peers, is its unique commitment to growing an extensive global reach while continuing to provide new and high-quality treatments for patients and an innovative culture for its employees. I am proud to be joining a company that helps millions of patients around the world on a daily basis with its broad range of generic and specialty drugs and solutions. I look forward to working closely with the entire team at Teva to build a future of success for the Company and its stakeholders.”