Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) today announced that Teva North America CEO and Teva EVP Global Pharmaceutical Markets George S. Barrett has resigned. Teva USA president and CEO William Marth will replace him immediately.
Barrett was one of the top three executives at Teva, after president and CEO Shlomo Yanai and EVP Global Resources Amir Elstein. Last year, Barrett was a candidate for Teva CEO, but withdrew his candidacy because under the company's articles of incorporation he would have to move to Israel.
Sources at Teva said there was no connection between Barrett's departure now and the departure of long-time CFO Dan Suesskind.
Marth, 53, been at Teva for almost a decade and has 30 years experience in the pharmaceutical industry. Teva noted that he has overseen a number of significant product launches, most notably the December launch of generic Protonix, and two of the largest launches in the history of US generics: Simvastatin and Pravastatin in 2006. Marth, will continue to be based in Teva’s North American headquarters in North Wales, Pennsylvania, and will report directly to Yanai.
Teva added that Barrett is leaving to become vice chairman of Cardinal Health Inc. (NYSE:CAH) and CEO of its Healthcare Supply Chain Services Sector.
Published by Globes [online], Israel business news - www.globes-online.com - on January 10, 2008
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