Three Teva directors to leave board

Galia Maor Photo: Tamar Matsafi

Galia Maor, Dan Suesskind and Gabrielle Sulzberger will not stand for re-election in June for another term.

Galia Maor, Dan Suesskind and Gabrielle Sulzberger are set to leave the board of directors of Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) according to the invitation to the annual shareholders meeting put out by the Israeli company last night.

During the meeting that convenes on June 5, shareholders will be asked to approve their choice of two directors to serve an additional term of three years: Rosemary Crane and Gerald Lieberman; and to approve that Prof. Ronit Satchi-Fainaro join the board - the new candidate is a professor in Tel Aviv University's Faculty of Medicine.

At the same time Maor, the former Bank Leumi (TASE: LUMI) CEO who has served on the Teva board since 2012 has decided not to stand for re-election. Suesskind, the former Teva CFO has also decided not to stand again even though he only returned to the Teva board several months ago. Sulzberger who has served on the board since 2015 is also not standing again.

The shareholders meeting in June will also include a non-binding vote on remuneration for Teva's senior executives, as is the practice for US companies. Teva began reporting as a US company this year and is bound by the various American reporting rules.

Published by Globes [online], Israel business news - www.globes-online.com - on April 26, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

Galia Maor Photo: Tamar Matsafi
Galia Maor Photo: Tamar Matsafi
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