Roiled by fi­nan­cial tur­moil, Teva's CEO boots R&D chief, top ex­ecs in C-suite over­haul

Fol­low­ing news of im­pend­ing lay­offs and dis­as­trous fi­nan­cial per­for­mance, the new CEO of gener­ics gi­ant Te­va Phar­ma­ceu­ti­cals is boot­ing old ex­ec­u­tives and bring­ing up a new team to lead the trou­bled com­pa­ny’s re­struc­tur­ing ef­forts.

Kåre Schultz, who took the reins at Te­va ear­li­er this month, has made staffing cuts his first big move. The com­pa­ny is ex­pect­ed to soon slash 4,000 jobs at its head­quar­ters and plants in Is­rael, along with some lo­ca­tions in the US, Cal­cal­ist re­port­ed last Thurs­day.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER