Photo Credit: Yonatan Sindel / Flash 90
The Teva pharmaceuticals building in Jerusalem.

The CEO of TEVA Pharmaceuticals, Erez Vigodman, unexpectedly announced his resignation Monday night.

“This follows the mutual agreement between the Board of Teva and Erez Vigodman that Mr. Vigodman is stepping down. Mr. Vigodman’s service on the Teva Board of Directors has also ended,” TEVA said in a statement on Tuesday morning.

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Vigodman is to be replaced by Dr. Yitzhak Peterburg as interim president and CEO. Peterburg has served as Chairman of the Board of Directors of TEVA since January 2015.

TEVA is one of Israel’s largest companies, with divisions in numerous other countries. It has been struggling with debts that resulted from legal complications involving governments in the United States, Mexico, Russia and Ukraine.

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Hana Levi Julian is a Middle East news analyst with a degree in Mass Communication and Journalism from Southern Connecticut State University. A past columnist with The Jewish Press and senior editor at Arutz 7, Ms. Julian has written for Babble.com, Chabad.org and other media outlets, in addition to her years working in broadcast journalism.

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