Monday, November 4, 2013
With a deeply experienced CEO known for executing large,
transformational deals, Teva
Pharmaceutical Industries Ltd. had the chance to do something
disruptive. But after the abrupt departure of President and CEO Jeremy Levin
last Wednesday, it is not clear whether Teva can execute his plan to return the
ailing generics and specialty pharmaceuticals company to growth.
Teva's board and remaining
management say they are committed to implementing the strategy Levin developed
and presented to investors in December. However, Chairman Phillip Frost said
disagreement over an unspecified aspect of implementing that strategy led the
board and Levin to part - just two days after Levin publicly denied rumors he had
threatened to resign.