Teva Announces Leadership Change in its Global Operations Group
Teva Pharmaceutical Industries (NYSE and TASE: TEVA) announced today the retirement of Dr. Carlo de Notaristefani, and the appointment of Eric Drapé as Executive Vice President, Global Operations. Dr. de Notaristefani will step down from his role effective immediately. Mr. Drapé will be based out of Teva’s global headquarters in Israel.
"After more than seven years leading Teva Global Operations, Carlo de Notaristefani, will retire from Teva," said Kare Schultz, Teva's President and CEO. "During his tenure, Carlo and his team significantly improved the strength and performance of our global operations and supply chain while at the same time continuing to optimize the network, reduce cost and improve the competitiveness of our products. I would like to thank Carlo for his numerous contributions and leadership, and wishing him the very best in his retirement.
"Eric is the right leader to succeed Carlo at this time and take Teva Global Operations to the next level of performance, acting as a central driver of Teva's mission and strategy. The organization is well prepared to ensure a smooth transition."
About Eric Drapé
Mr. Drapé, age 58, joined Teva in 2014 and served in various senior management positions, including as Executive Vice President and Chief Quality Officer of the Teva Group (2015-present), head of Teva's Biologics Operations (2014-2017), and Senior Vice President, Technical Operations Steriles, Respiratory and Biologics (2014-2015). Prior to joining Teva, Mr. Drapé served as Executive Vice President, Technical Operations of Ipsen Pharma and served in several leading positions at Novo Nordisk. Mr. Drapé holds a Doctorate degree in Pharmacy and a DESS in Analytical Control of Drugs from the Université Paris XI. He also received his Executive MBA from the Scandinavian International Management Institute in Copenhagen.
Established in Israel in 1901, Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) has been developing and producing medicines to improve people’s lives for more than a century. We are a global leader in generic and specialty medicines with a portfolio consisting of over 3,500 products in nearly every therapeutic area. Around 200 million people around the world take a Teva medicine every day, and are served by one of the largest and most complex supply chains in the pharmaceutical industry. Along with our established presence in generics, we have significant innovative research and operations supporting our growing portfolio of specialty and biopharmaceutical products. Learn more at www.tevapharm.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management’s current beliefs and expectations and are subject to substantial risks and uncertainties, both known and unknown, that could cause our future results, performance or achievements to differ significantly from that expressed or implied by such forward-looking statements. Important factors that could cause or contribute to such differences include risks relating to our ability to successfully execute a smooth lead of Global Operations transition as well as our ability to retain and recruit qualified executives; our ability to successfully compete in the marketplace; our substantial indebtedness, which may limit our ability to incur additional indebtedness, engage in additional transactions or make new investments; compliance, regulatory and litigation matters; other financial and economic risks; and other factors discussed in our Quarterly Reports on Form 10-Q for the first and second quarter of 2019 and in our Annual Report on Form 10-K for the year ended December 31, 2018, including in the sections captioned "Risk Factors” and “Forward Looking Statements.” Forward-looking statements speak only as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statements or other information contained herein, whether as a result of new information, future events or otherwise. You are cautioned not to put undue reliance on these forward-looking statements.
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