eyal-desheh

Teva has another high profile role to fill

pharmafile | April 27, 2017 | News story | Sales and Marketing Eyal Desheh, Teva, Teva Pharmaceuticals 

Teva’s gaps at the top level of its structure continue to build, as Eyal Desheh is set to leave his role. The long-serving employee has been CFO since his appointed in 2008. Teva has announced that it will leave the appointment of the successor to Desheh to be decided by the new CEO that will join the company to fill that particular vacancy.

It’s unlikely that stakeholders in Teva will be pleased by the difficulties at the top level, especially because it leaves the company in a situation whereby it has to find a new CEO before finding a new CFO. To add to the uncertainty, Teva were only able to release that Desheh will leave in ‘the coming months’.

Dr. Yitzhak Peterburg, Interim President and CEO of Teva, stated, “Eyal has helped Teva grow into a leading global pharmaceutical company. The management team and I would like to thank Eyal for his many contributions, as well as his continued support during the transition.”

The company is currently looking for a new CEO after Erez Vigodman, its previous CEO, stepped down back in February. The decision in that case was reached by ‘mutual agreement’, with Teva having a disastrous period over the last year and as it struggles to shore up investor confidence in the company.

A major point of contention was the acquisition of Allergan that some investors warned was significantly overpriced, as the generic market began a downward trajectory. It led to the loss of Sigurdur Olafsson as CEO of its global generics business, who had played a key role in the deal.

Desheh is expected to be appointed as Chairman of Isracard, the credit card unit of Bank Hapoalim, after he leaves his position. Desheh will be joined exiting the company by potentially thousands of staff, as Teva has recently been reported to be looking at shedding staff numbers.

Ben Hargreaves

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