Teva Makes Board ChangeBy
The board of directors of Teva Pharmaceutical Industries Ltd. reports that Phillip Frost has resigned from the company’s board, effective February 4, 2015. Dr. Frost served as chairman of the Board of Directors of Teva from March 2010 until December 2014, vice chairman of the board of directors from January 2006 and as chairman of the board and chief executive officer of IVAX Corporation from 1987 until 2006, when it was acquired by Teva.
Teva had previously elected Professor Yitzhak Peterburg as chairman, effective January 1, 2015, following Dr. Frost’s announcement that he planned to step down as chairman by the end of 2014.
Prof Peterburg said in a company statement: “Dr. Frost has made significant contributions to Teva since joining the Board in 2006 with Teva's acquisition of Ivax. He has been deeply influential in Teva's growth and we have benefitted greatly from his experience and knowledge. We wish him continued success in his distinguished career.”
“I would like to congratulate Prof. Yitzhak Peterburg on assuming his new role as chairman of the board of Teva,” stated Dr. Frost. “Over the years, I have had the pleasure of working with outstanding people on the board of directors and in the management team of Teva, and I feel that the company is poised to lead in the global pharmaceutical industry.”
Dr. Frost has been the CEO and chairman of OPKO Health, a pharmaceutical and diagnostics company headquartered in Miami, Florida since March 2007.
Source: Teva Pharmaceutical Industries