Teva Pharmaceutical Industries Ltd announced in a January 9 press release that it had appointed Erez Vigodman as the company’s new President and CEO. Vigodman is set to begin his duties effective February 11, 2014. Vigodman succeeds the interim President and CEO, Eyal Desheh, who will return to his previous position as Group EVP and Chief Financial Officer.
Erez Vigodman stated, “It is a great honor for me to be named President and CEO of Teva, a pioneer in the healthcare industry. I am excited to work with the management team and Teva's employees to build on the great traditions of the company to solidify our global leadership and fully tap the company's great potential to deliver medicines and solutions to patients all over the world. I understand the challenges facing Teva and I am confident that, together with the management team, we can address these challenges and deliver on our commitment to creating value for our shareholders by expanding Teva's businesses and delivering long-term growth."
Members of the executive team at Teva are familiar with Vigodman, as he is a current board member. The Chairman of the Board of Directors, Dr. Phillip Frost, stated "I would like to welcome Erez to his new position as the CEO of Teva. As a member of the Teva Board since 2009, Erez has a deep understanding of the company and the industry in which it operates, putting him in a strong position to hit the ground running and deliver value for shareholders. I would like to thank Eyal for leading the company through an important time and maintaining focus on the execution of our strategy. I would also like to thank all the members of the Board of Directors who have diligently given of their time in this intensive selection process."
Vigodman currently serves as President and CEO at Makhteshim Agan Industries, where he has been since 2010. Vigodman is responsible for the expansion of MIA into global markets in Asia and Latin America as well as providing the basis for improvement for MIA’s R&D infrastructure. He will continue to serve as the company’s CEO until February 6, 2014.
Vigodman had held the position of President and CEO, for Strauss Group, which is a global food and beverage company. Strauss Group’s portfolio includes collaborations with companies such as Danone and PepsiCo. During Vigodman’s leadership, the company increased their sales from 2.9 billion which they retained in 2002 to 6.2 billion in 2008.