Following news of impending layoffs and disastrous financial performance, the new CEO of generics giant Teva Pharmaceuticals is booting old executives and bringing up a new team to lead the troubled companys restructuring efforts.
Kåre Schultz
Kåre Schultz, who took the reins at Teva earlier this month, has made staffing cuts his first big move. The company is expected to soon slash 4,000 jobs at its headquarters and plants in Israel, along with some locations in the US, Calcalist reported last Thursday.
Now, the companys C-suite is also getting a shakeup. Teva announced this morning that three top executives are retiring at the end of the year, confirming rumors that some head honchos were headed out.
Tevas high-profile…
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