Teva expected to name AstraZeneca head Pascal Soriot as its CEO: report

According to a report Wednesday by the financial news website Calcalist, Teva is planning to select AstraZeneca chief executive Pascal Soriot as its next CEO. The website said Soriot has met with Teva's search committee and agreed to take theposition formerly occupied by Erez Vigodman, who stepped down from the Israeli drugmaker in February and was replaced on a temporary basis by then board chairman Yitzhak Peterburg. 

Calcalist indicated that financial terms of the contract are still being negotiated, but that Soriot is expected to earn about twice as much as Vigodman, who was paid $5.7 million annually, and receive a signing bonus of up to $20 million. A spokeswoman for AstraZeneca remarked "we don't comment on rumour and speculation," while Teva also declined to comment on the report. 

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In May, Calcalist disclosed that a non-Israeli candidate had emerged as the leading contender for the CEO position. The report also said three candidates were being considered for the job of chief financial officer following the recent departure of Eyal Desheh. 

Soriot, who was named CEO at AstraZeneca in 2012, faced recent criticism from shareholders over his $17.3-million compensation. In April, 39 percent of shareholders voted against the company's pay report, which covers pay for last year and existing long-term packages, although the vote was not binding.

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