Still carrying the budget axe, Kåre Schultz is wrapping up his stint at Teva, promising to start paying opioid settlement
Almost exactly five years ago, Teva captured the industry’s attention with its high-profile recruitment of Kåre Schultz at Lundbeck for the top job at the troubled generics giant. And now the CEO has his last year in view as he promises to finish the turnaround he had promised in 2017.
Schultz jumped to Teva for an initial pay package worth more than $44 million — including a whopping $20 million bonus right off the bat. Plagued by thinning margins and falling prices, he initially focused on making deep cuts to the organization in an effort to fix what ailed it while paying down a heavy debt load.
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