Former Teva CEO resigns from board citing personal reasons

Dr. Yitzhak Peterburg, the former interim CEO and company chairman of Israeli pharmaceutical giant Teva, announces his resignation from the board of directors effective immediately.

In a statement, Teva says Peterburg’s resignation “is for personal reasons and is not due to a dispute with the company.”

Teva shares in the US have taken a plunge this year as the company has faced harsh financial woes.

The debt-laden company is reportedly preparing to sack thousands of employees in Israel and the US, including one quarter of its Israeli workforce.

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