Published On: Sun, Oct 27th, 2013

Jeremy Levin Teva CEO Threatens To Resign

Jeremy Levin has threatened to resign because of interference by the board of directors.


Jeremy Levin

Israeli Channel 2 News reports that Teva Pharmaceutical Industries Ltd. (NYSE:TEVA; TASE: TEVA) CEO Jeremy Levin has told aides that unless the board of directors stopped interference in the company’s management, he would consider resigning. “This would put the company at risk, ” states Teva’s management in a letter to the board of directors. In the letter, Teva’s management demanded that the board stop interfering in the company’s management.

The letter was written after Levin’s meeting with Histadrut (General Federation of Labor in Israel) chairman Ofer Eini, in which they discussed Teva’s streamlining plan and intention to fire up to 800 employees in Israel. Levin promised Eini that the layoffs in Israel would only be carried in coordination with the Histadrut .

However, Teva’s board of directors is demanding that the layoffs in Israel be carried out in full.

Teva denies the report.

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