Teva Pharma Names Kåre Schultz President & CEO - Quick Facts

(RTTNews) - Teva Pharmaceutical Industries Ltd. (TEVA) announced the company's Board has named Kåre Schultz to become the company's President and CEO. Schultz will succeed Yitzhak Peterburg, who will continue to serve as Interim CEO until Schultz joins the company.

Most recently, Kåre Schultz served as the President and Chief Executive Officer of H. Lundbeck A/S. Prior to joining Lundbeck, Schultz worked for nearly three decades at Novo Nordisk, where he served in a number of leadership roles, including Chief Operating Officer. Schultz serves as the Chairman of the Board of Royal Unibrew A/S, as a member of the Board of LEGO A/S and as a member of the Board of Bitten og Mads Clausens Fond, the holding vehicle for Danfoss A/S.

Yitzhak Peterburg said, "We are delivering on the commitments we have made over the last several months. We are optimizing our operations and geographical footprint while focusing our resources on the specialty and generics pipeline assets that offer the most attractive return on investment. In addition, we are on course to hit our target of generating at least $2 billion from the sale of non-core assets, which we will use to strengthen Teva's balance sheet."