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Former Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE: TEVA) CEO Shlomo Yanai has been appointed chairman of US drug development company Cambrex Corporation (NYSE: CBM). He succeeds John Miller, who stepped down on April 24, after six years. He served on Cambrex’s board of directors since 1998.
Yanai joined Cambrex as vice chairman in November 2012, after serving as Teva’s president and CEO from 2007 to mid-2012, “during which time Teva increased revenues from $8.4 billion to approximately $20 billion, ” states Cambrex.
In a filing with the US Securities and Exchange Commission (SEC), Cambrex said that Yanai will be paid a salary of $245, 000 a year, and will receive $50, 000 in shares, which will be vested for six months, and options exercisable for shares worth $30, 000.
Published by Globes [online], Israel business news – www.globes-online.com