Teva Pharmaceutical Industries has confirmed that Professor Yitzhak Peterburg is to serve as its new chairman from January.
Peterburg who has been a board member since 2012 is to succeed Dr Phillip Frost who previously announced plans to step down as chairman by the end of the year. The Israeli-based firm has also taken on Dr Sol J. Barer as a director who starts from 2015.
“After an extensive international search, the board determined that Yitzhak is best placed to provide the leadership and vision we need to strengthen Teva’s position as a global player in the pharmaceutical industry,” says Frost.
“His vast experience and deep understanding of Teva and its potential, as well as his extensive experience in running large healthcare systems, make Yitzhak an excellent choice to succeed me as chairman at this juncture in the company’s transformation for the future.”
Peterburg rejoined Teva’s board of directors in 2012 and was its senior VP of its global branded products in charge of innovative drugs, R&D and pipeline asset management from 2010 to 2011.
Previously he served as president and chief executive of Cellcom Israel, a telecomms enterprise from 2003-2005. Prior to that from 1997-2002 he served as chief executive of Clalit Health Services, the leading healthcare provider in Israel and considered to be the second largest in the world.
“The board is deeply grateful to Dr Frost for his contributions, insight and commitment to Teva during this period of growth and opportunity for the company,” says Peterburg. “I am honoured to assume the role of chairman, and look forward to working closely with the board, including president and chief executive, Erez Vigodman, and the entire management team.
“I am also pleased that Dr Sol Barer will join the board and contribute his outstanding global pharmaceutical expertise. The board has made its composition a priority, as demonstrated by the addition of Sol, as well as Jean-Michel Halfon earlier this year.”