Teva confirms CFO Eyal Desheh will step down

Teva announced Wednesday that chief financial officer Eyal Desheh will leave the drugmaker in the coming months. The news follows a report earlier this week that Desheh may be taking a position outside the pharmaceutical industry. Teva, which is also in the process of looking for a permanent CEO after Erez Vigodman stepped down in February, said it will immediately begin a search for a successor to serve as chief financial officer, but that Desheh will take part in the company's first-quarter earnings presentation on May 11.

"It has been a privilege to serve for many years as Teva's CFO," stated Desheh, adding "I'm transitioning into the next phase of my career." He indicated that he will be "working to ensure a seamless transition as Teva continues executing for shareholders in 2017." 

FirstWord Reports: Providing insight, analysis and expert opinion on important Pharma trends and challenging issues <Click here>

Desheh, who became Teva's CFO in 2008, also served as the company's interim CEO for a time between 2013 and 2014 following the departure of former chief executive Jeremy Levin.  

Meanwhile, Teva chairman Sol Barer said "my highest priority is to identify and appoint Teva's next chief executive officer," adding that "we expect the company's new CEO to have a significant role in identifying [Desheh's] successor." 

For related analysis, see ViewPoints: Teva seeks another new CEO, but challenges remain the same; if not harder.

To read more Top Story articles, click here.