Teva Pharmaceutical Industries Ltd. announced that its Board of Directors has named K†re Schultz to become the Company’s President and Chief Executive Officer. Mr. Schultz will succeed Dr. Yitzhak Peterburg, who will continue to serve as Interim Chief Executive Officer until Mr. Schultz joins the Company.

The leadership announcement represents the successful completion of the global search process to identify the best leader for the Company and was executed by the Teva Board of Directors, with the assistance of Heidrick & Struggles. Mr. Schultz will be relocating to Israel and based out of the Company’s Petah Tikva headquarters.