Connect with us

Hi, what are you looking for?

Jewish Business News


Financial Times : Benny Landa Calls For Chairman Of Teva Dr. Phillip Frost To Step Down

In an email to investors seen by the “Financial Times, ” printing pioneer Benny Landa hints he is seeking to oust Teva chairman Phillip Frost.
benny_landa_10686584 Phillip Frost TEVA
Benny Landa                                                 Dr.Phillip Frost
Globes correspondent
The “Financial Times” has revealed details of an email reportedly sent by Israeli entrepreneur Benny Landa to leading Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) that was designed to “shake up” the board of directors.
In the email, he called for “significant board leadership changes, ” which can be seen as a broad hint threatening the position of Teva chairman Dr. Phillip Frost. Landa is looking for change in the wake of the firing of Dr. Jeremy Levin as CEO in October following differences of opinion with Frost. The capital market did not like Frost’s aggressive intervention following Levin’s ouster and sent the share price plunging. Teva will soon appoint a new CEO and “Globes” has revealed it will be Makhteshim Agan Industries Ltd. CEO Erez Vigodman.

In the email Landa attempts to rally major shareholders (US funds with major Teva holdings) to lead a campaign for the reduction of the number of directors on Teva’s board from 16 to 12 with more experienced directors in global pharmaceuticals. He also wants to change the company’s constitution so that a lower majority than the current 85% is required to change directors.

In the email he wrote, “I don’t know if this board is able to attract a world class CEO to lead Teva, but with higher standards of corporate governance and a pharma-seasoned board of directors, at least the new CEO will stand a better chance than his predecessor!”

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

He also said that he had spoken with incoming deputy chairman Amir Elstein and that there had been a “meeting of minds” and that the former Israel Corporation (TASE: ILCO) chairman had promised to push forward with the changes asked for by Landa this month.

Teva said, “There have been no talks with institutional investors on behalf of the company’s board of directors.”

Landa declined to comment to the “Financial Times” on his initiative. He also wrote in his email, ” “I am greatly relieved that Teva’s board appears ready to make these bold moves, which, hopefully, will restore investor confidence not only in Teva but also in Israel.”

Landa pioneered digital printing through Indigo which he sold to HP for $830 million in 2003. He is now pioneering nanotechnology printing through Landa Nanographic Printing Ltd.


Published by 



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.