Published On: Sun, Apr 27th, 2014

Cambrex names Shlomo Yanai chairman

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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.

“I would like to thank John for his exceptional leadership of the Cambrex board, ” said Cambrex president and CEO Steven Klosk. “As we look forward to Mr. Yanai’s leadership as our new chairman, we are fortunate to have the benefit of an outstanding life science leader who has previously led Teva Pharmaceutical, one of the world’s largest pharmaceutical companies, during a period of tremendous growth. Shlomo’s in-depth knowledge of our industry will be a great asset as we look to accelerate our strategic growth initiatives.”

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 

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