- On January 1, 2015, current Teva board member Yitzhak Peterburg will become Chairman of the board as Phillip Frost, who has been called controversial, steps down. Unlike Frost, Peterburg has pharmaceutical and healthcare experience.
- Peterburg used to serve as Teva's VP of Global Branded Products before joining the board three years ago.
- Before choosing Peterburg, Teva conducted a global search for its next chairperson.
Peterburg beat out other esteemed candidates, including Teva Vice Chairman Amir Elstein and Chaim Hurvitz, son of late Teva chief Eli Hurvitz.
One of the most important criteria for the new leader was that he or she must have experience in the pharmaceutical industry. High-level investors and shareholders, as well as upper management at Teva, have demanded new leaders with industry experience—and by choosing Peterburg, they're getting it.