Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) EVP global brand and communications Iris Beck-Codner is resigning after six and a half years with the company, sources inform "Globes." She was previously the company's EVP corporate market and communications. Teva said that it did not respond to rumors.
Beck-Codner is one of the most senior Israelis at Teva, and is now one of its longest-serving executives. She was part of the company's senior management under five different CEOs (three permanent and two temporary). As far as is known, Beck-Codner will leave the company in the coming months after an overlapping period with her successor, who has not yet been chosen.
It is believed that Beck-Codner is resigning in order to pursue a different line of business. She apparently asked to resign her position two years ago, but CEO Kare Schultz, who had just been appointed, asked her to remain in her post during the company's streamlining plan. The plan, which was presented in late 2017, officially finishes at the end of 2019. It was designed to save Teva $3 billion in annual costs through layoffs, cutbacks, and closing plants, so that the company would be able to service the large debt it incurred, largely in order to finance its acquisition of Actavis in 2016.
Led the launch of Teva's new global brand
During the past year, Beck-Codner led the launch of Teva's new global brand. Six months ago, as part of this, Teva Israel's rebranding was launched, including the replacement of its logo on all of the company's sites and redesigned packaging for its drugs. Teva stated at the time that this was an integral part of its restructuring designed to enable the company to "operate as a united company, achieve better commercial focus, and enhance its proximity to markets, while enhancing value."
The launch of the new global brand is taking place simultaneously with massive cost-cutting. Beck-Codner told "Globes" a few months ago, "As the business situation becomes more complicated, difficult and challenging, we have to manage the organization. We've been here for 118 years already, and we'll be here for another 118 years. This is a focused measure that also concludes saving on costs. For example, in the US, we manufactured bottles with three different types of stoppers, and now we'll manufacture one type - this is optimization." At the same time, the unit she managed developed a worldwide system of digital support for patients.
In a letter to company employees concerning Beck-Codner's departure, Teva CEO Kare Schultz wrote: "Since joining Teva in 2013, Iris has built and implemented a modern global communications function, with overall responsibility for global brand, external and internal communications and channel management. The function has spearheaded Teva's brand, embedding our new identity in multiple touchpoints across key markets. It has revamped our corporate digital presence, upgrading our websites and social media properties and creating new content initiatives. The function also led to the enhancement of our corporate social responsibility operations, measuring and demonstrating how we act as a responsible business.
"Over the past two years, and as part of my leadership team, Iris has played a critical role in ensuring the success of our restructuring plan by helping to instill a cultural mindset of One Teva, supporting our mission and strategy. Going forward, the CB&C function will continue to implement and enhance the corporate brand as well as further embed One Teva thinking.
"I would like to thank Iris for transforming Teva’s communication capabilities over these seven years and for her valued role on my leadership team."
Before joining Teva, Beck-Codner was CEO of McCann Erickson Israel, of the IPG group, in 2009-2012, and was VP marketing and content at Partner in 2002-2008. She was previously CEO of Lever Israel, a subsidiary of Unilever Israel.
Published by Globes, Israel business news - en.globes.co.il - on September 9, 2019
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