Teva Chooses Erez Vigodman as CEO

Teva Pharmaceuticals has chosen an agro-chemicals expert as its new CEO. Former Makhteshim Agan Industries (MAI) chief Erez Vigodman takes Teva’s helm Feb. 11, Teva said Thursday.

Vigodman will succeed the company’s current acting president and CEO Eyal Desheh, who will remain on as the drugmaker’s chief financial officer. He has been a member of Teva’s board since 2009.

During his nearly four years at MAI, Vigodman restored profitability by investing in R&D infrastructure, improving day-to-day operations and making investments to improve organic growth, Teva trumpeted.

The staff change follows a recent, 11-percent cut in the company’s workforce, some 5,000 employees, spurred on by generic competition to its premier multiple sclerosis drug Copaxone. — Lena Freund

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