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Teva board elects Yitzhak Peterburg as chairman

He succeeds Phillip Frost
Yitzhak Peterburg

The Teva board has elected Yitzhak Peterburg as its chairman, succeeding Phillip Frost who is due to step down at the end of the year.

Peterburg has worked at Teva since 2009 and has been group VP head of global branded products for the firm since 2010.

His career also includes spells as CEO and president at telecoms company Cellcom Israel and CEO at Clalit Health Services, Israel's leading healthcare provider.

Frost, who was appointed chairman since, March 2010, has overseen an era of change for Teva as it looks to move beyond its generics background and build its specialty pharmaceuticals business.

Frost was said to have a strained relationship with Teva's former CEO Jeremy Levin who left the company in 2013 to be replaced by Erez Vigodman at the beginning of 2014.

Teva also appointed Sol Barer, the former chief executive of Celgene, as a director.

28th November 2014

From: Sales

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