Moshe Manor will move to the new Teva Asia Division, seen as a future growth engine.
Teva Pharmaceutical Industries Ltd. (Nasdaq: TEVA; TASE: TEVA) has appointed former Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL) president and CEO Yitzhak Peterburg as Group VP Global Branded Products. Peterburg has been a director at Teva for a year, and his resume includes a stint as director of the Soroka Medical Center in Beersheva.
Peterburg is replacing Moshe Manor, who is being transferred to head Teva's new Asia Division, after serving nine years in his present post. During Manor's tenure, Copaxone sales rose from $360 million in 2001 to $2.8 billion in 2009. Teva said that Manor's transfer to Asia stresses the importance that the company attaches to the continent as an important future growth engine.
In a separate development, Teva's board of directors is expected to appoint former chairman Haim Hurvitz as a director at next week's board meeting.
Published by Globes [online], Israel business news - www.globes-online.com - on July 20, 2010
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