Teva Pharmaceutical announced a new organization and leadership structure.
“Teva is taking decisive and immediate action to address external pressures and internal inefficiencies,” Kåre Schultz, Teva’s President and CEO, said. “Our new company structure will enable stronger alignment and integration between R&D, operations and the commercial regions, allowing us to become a more agile, lean and profitable company."
New structure
The commercial business will no longer have two separate global groups for generics and specialty medicines, and will be integrated into one commercial organization, operating through three regions – North America, Europe and Growth Markets. Each of the regions will manage the entire portfolio – including generics, specialty and OTC - with full end-to-end P&L accountability.
The former Generic R&D and Specialty R&D organizations will be combined into one global group with overall responsibility for all R&D activities – generic, specialty and biologics.
The commercial structure will rely on one leaner supporting organizational infrastructure that includes Finance, Legal, HR, and Global Brand & Communications.
As a result of these changes, Dr. Michael Hayden, Dr. Rob Koremans and Dipankar Bhattacharjee will retire from Teva, effective December 31, 2017.
New executive management team
Michael McClellan is appointed Executive Vice President, Chief Financial Officer and will oversee the Finance Group, Business Development, Investor Relations and Information Technology. Previously, he served as Interim CFO and as SVP & CFO Global Specialty Medicines. Prior to joining Teva, Mike was the U.S. CFO at Sanofi.
Dr. Hafrun Fridriksdottir is appointed Executive Vice President, Global R&D. Previously, she served as President of Global Generics R&D. Prior to joining Teva, Hafrun served as Senior Vice President and President of Global Generics R&D in Allergan.
Brendan O'Grady is appointed Executive Vice President, North America Commercial. Brendan has previously served as Chief Commercial Officer, Global Specialty Medicine, as interim head of Teva’s European specialty business and as President and CEO for Teva’s North America generics business and as VP US Market Access and Reimbursement.
Richard Daniell is appointed Executive Vice President, European Commercial, after having served as President and CEO, Teva Generics Europe.
Gianfranco Nazzi is appointed Executive Vice President, Growth Markets Commercial. Gianfranco has previously served as President and CEO of Growth Markets at the Global Generic Medicines group, and prior to that he was he has served as Senior Vice President, Specialty Medicines Europe.
Sven Dethlefs is appointed Executive Vice President, Global Marketing & Portfolio. He previously served as Global Head of Respiratory Medicines and as Chief Operating Officer, Teva Global Operations.
All appointments are effective immediately, while the retiring executives will stay with Teva to support the transition until the end of the year.
The following members of Teva's executive management team will continue in their current positions:
- Carlo de Notaristefani, Executive Vice President, Global Operations
- Iris Beck-Codner, Executive Vice President, Global Brand & Communications
- Mark Sabag, Executive Vice President, Global Human Resources
- David Stark, Executive Vice President, Chief Legal Officer