Teva faces yet more senior changes as Prof Moshe Many announced his intention to step down as vice chairman at the beginning of next year.
According to Teva, Prof Many is leaving his position for “personal reasons” and will be replaced by board director Amir Elstein. This change will take place on January 1, 2014.
It is second major change at the top for Teva in recent months after the company announced its president and CEO Jeremy Levin was stepping down after just 18 months in the position.
Commenting on Prof Many’s decision to step down, Teva’s chairman Dr Phillip Frost said: “I would like to thank Prof Many for his outstanding service as vice chairman and wish Amir success in continuing Moshe’s good work.”