Teva decided to appoint Richard Francis as President and CEO replacing Kar Schultz after 5 years

The Teva Company announced that it has decided to appoint Richard Francis as President and CEO of the company. The appointment will take effect on January 1, 2023. In order to ensure an orderly transition of the position of CEO, the members of the Board of Directors together with outgoing CEO Kor Schultz decided that He will finish his term at the end of December 2022.
Richard Francis has more than 25 years of experience in the pharmaceutical industry, including serving as CEO of Sandoz and a board member of Novartis for five years. Prior to his role at Sandoz, Francis was a senior executive at Biogen for 13 years , where he held a series of senior positions.
 Francis currently serves as the CEO of Purespring Therapeutics, a groundbreaking gene therapy company focused on changing the treatment of kidney disease, as well as the CEO of Forcefield Therapeutics, a pioneering company in the field of heart protection therapy. Francis is also an operating partner of Syncona Investment Management Limited.
Dr. Saul J. Barrer, Chairman of Teva's Board of Directors: "On behalf of the entire board of directors, I would like to thank Carr for his dedication and contribution to Teva over the past five years. Under Carr's leadership, we have stabilized the company's business. The company is today in a leading position towards A promising future. Given Richard's established background in leading the growth of life sciences, biotech and generics companies, his entrepreneurial and hands-on leadership style, and his emphasis on a collaborative and innovative culture, the board and I are confident that Teva will be able to add to and build on this solid foundation. As a global company, we We look forward to continuing to fulfill our mission of providing essential medicines to many patients around the world under Richard's leadership. The board is pleased to have found the ideal CEO for the next step in Teva's exciting journey to return to growth and market leadership."
Richard Francis: "I have long admired the value that Teva creates for its patients around the world, and I am honored to take on the responsibility of leading this extraordinary company into the future. I look forward to leveraging my background and years of experience in the pharmaceutical field to build on the foundations Teva's strengths and write the next exciting chapter for the company, focusing on building a solid path to long-term growth. I continue to see a bright future for the company and look forward to working closely with the board, management team and talented employees to continue to drive value creation for patients, employees, shareholders and other stakeholders".
Schultz, Teva's outgoing CEO, said: "It has been a great privilege for me to lead Teva as CEO since I took office in 2017, and to work with dedicated and talented company members to improve the lives of patients. We have positioned Teva as a leader both in the field of originator drugs And in the field of our generic drugs, we have built a solid financial and operational infrastructure and improved our portfolio and backlog of products. It is the right time for Teva to make the transition, and Richard's proven experience in the industry makes him the right person to step into the position of CEO of Teva."