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Wed, July 15 at 7:00PM ET

Teva Pharmaceutical Industries Ltd (ADR) (TEVA) Stock Soars on New CEO News

Kare Schultz will be taking over as CEO of TEVA

Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA) stock was flying high today following news of a new CEO.

Teva Pharmaceutical Industries Ltd (ADR) (TEVA) Stock Soars on New CEO News

Kare Schultz will be taking over the position of president and CEO at Teva Pharmaceutical Industries Ltd (ADR). This will have him replacing Dr. Yitzhak Peterburg, who has been serving the company as its Interim CEO.

Kare Schultz was chosen as the new CEO of Teva Pharmaceutical Industries Ltd (ADR) by its Board of Directors. The company was searching for a new CEO with the help of Heidrick & Struggles International, Inc. (NASDAQ:HSII). Peterburg will continue to serve in the Interim CEO role until Schultz takes over.

The move to President and CEO of Teva Pharmaceutical Industries Ltd (ADR) will have Kare Schultz heading to the company’s Petah Tikva headquarters in Israel. Schultz brings nearly 30 years of experience in the pharmaceutical and healthcare industry with him, which is likely good news for TEVA stock.

Prior to accepting the position of CEO at Teva Pharmaceutical Industries Ltd (ADR), Kare Schultz was serving as the President and CEO of H. Lundbeck A/S- ADR (OTCMKTS:HLUYY). Before this he was the  COO of Novo Nordisk A/S (ADR) (NYSE:NVO).

“It is a privilege to lead Teva and I look forward to continuing to do so during this time, and will work with Kare to ensure a seamless transition once he joins,” Peterburg said in a statement.

TEVA stock was up 20% as of Monday afternoon, but is down 47% year-to-date.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media,

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