Teva's board reelects Phillip Frost as chairman

Dr. Phillip Frost was unanimously elected for a second three-year term.

Teva Pharmaceutical Industries' (Nasdaq: TEVA; TASE: TEVA) board of directors unanimously reelected Philip Frost as chairman late Thursday for a second three-year term. Teva's shareholders will have to approve the appointment at the upcoming general meeting.

Teva vice chairman Prof. Moshe Many said, "Dr. Phillip Frost has the board’s full support. We would continue to benefit from his vision and guidance. We look forward to the progress of the company under the governance of the board and the leadership of Teva’s president and CEO Dr. Jeremy Levin." Teva's share price fell 3.7% by early afternoon on the TASE today to NIS 150.30, after rising 0.3% on Nasdaq of Friday to $38.90, giving a market cap of $33.9 billion.

Published by Globes [online], Israel business news - www.globes-online.com - on May 20, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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