Teva Elects New Chairman

Teva Pharmaceutical Industries Ltd. reports that its board of directors has elected Professor Yitzhak Peterburg as chairman, effective January 1, 2015. Prof. Peterburg, a member of the board since 2012 and from 2009-2010, will succeed Dr. Phillip Frost, who previously announced plans to step down as chairman by the end of the year. Dr. Frost has also informed the board that he will not stand for re-election as a director at the upcoming annual general meeting. Additionally, the board appointed Dr. Sol J. Barer as a director, also effective January 1, 2015.

Prof. Yitzhak Peterburg rejoined Teva's Board of Directors in 2012. He was Teva's senior vice president—global branded products, in charge of innovative drugs, R&D, and pipeline asset management from 2010-2011, after serving on Teva's board of directors from 2009-2010. He served as president and CEO of Cellcom Israel Ltd., a telecommunications enterprise in Israel, from 2003-2005. From 1997-2002, he served as CEO of Clalit Health Services, a healthcare provider (HMO) in Israel, He led the digitizing of Clalit Health Services, including 100% electronic health records coverage. Between 2000 and 2002, he was a board member at the International Federation of Health Plans and vice-chairman of the Association International de la Mutualite. Between 1990 and 1997, he held several managerial positions in the healthcare field, including CEO of the Soroka University Medical Center in Beer-Sheva. Prof. Peterburg currently serves as a director on the board of Rosetta Genomics Ltd.

Dr. Barer is managing partner at SJ Barer Consulting. From 1987-2011, he served in top leadership roles at Celgene Corporation, including as executive chairman (2010-2011), chairman and CEO (2007-2010), CEO (2006-2010), president and chief operating officer (1994-2006), and president (1993-1994). Earlier in his career, he was a founder of the biotechnology group at the chemical company Celanese Corporation, which was later spun off as Celgene. Dr. Barer currently serves on the board of a number of other biotechnology companies, including Amicus Therapeutics and Aegerion Pharmaceuticals. Dr. Barer is chairman of the board of InspireMD and Medgenics.

Source: Teva Pharmaceutical Industries

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