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Teva names Danish veteran Kare Schultz as new CEO, Compensation: $52M package that makes him among pharma’s top paid

Reporter: Aviva Lev-Ari, PhD, RN

Teva Pharmaceutical Industries Ltd., the world’s biggest seller of generics medicines, named Kare Schultz as its new chief executive, choosing an industry veteran to navigate a series of daunting challenges, from falling drug prices to the company’s high debt.

The appointment of Mr. Schultz, a Dane, ends a months-long period during which Teva had no permanent top executive. It recently shuffled its board and is shedding assets, while coping with new competitors. Teva shares have been under pressure for months.

The new chief executive joins from Denmark’s H. Lundbeck A/S, where he was president and CEO since May 2015. He has also worked as chief operating officer of Novo Nordisk A/S, the world’s biggest producer of insulin.

SOURCE

http://www.marketwatch.com/story/teva-names-danish-veteran-kare-schultz-as-new-ceo-2017-09-11