The CEO of generic drugmaker Teva just stepped down Feb 6 (Reuters) - Israel-based generic drugmaker Teva Pharmaceutical Industries Ltd said on Monday that Chief Executive Erez Vigodman was stepping down effective immediately and would be replaced on an interim basis by Yitzhak Peterburg, who has been chairman of Teva's board of directors. Because Israeli company law calls for separation of the roles of chairman and CEO, Petersburg will no longer head the board, which elected former Celgene Corp CEO Sol Barer to serve as the new chairman of the world's largest seller of generic medicines. Prior to rejoining Teva's board of directors in 2012, Peterburg led the company's innovative research and development efforts as head of global branded products, from October 2010 until October 2011. The company said it has hired a search firm to help identify candidates as it looks for a permanent CEO. Teva has faced numerous recent hurdles, including successful patent challenges to its most important branded product - the multiple sclerosis treatment Copaxone, integration of the Actavis generics business it bought last year for $40.5 billion, and a U.S. investigation into generic drug price fixing.

Teva last month provided a 2017 revenue and profit forecast below Wall Street estimates, sending its shares sharply lower at the time. Vigodman had been CEO since February of 2014. Teva's U.S.-listed shares fell more than 2 percent in extended trading after the latest management shakeup was announced. (Reporting by Bill Berkrot; Editing by Bernard Orr) Read the original article on Reuters. Follow Reuters on Twitter. Get the Slide Deck from Henry Blodget's IGNITION Presentation on the Future of Digitalfolding high chair ebay Read Business Insider On The Gooffice chair price bangalore Available on iOS or Androidladder back chairs history See All Jobs »chaise lounge chairs used

Thanks to our partners Want more Access, Content & Connections? We are glad you are enjoying Advertising Age. To get uninterrupted access and additional benefits, become a member today.Log in or go back to the homepage. Miles Nadal is stepping down as CEO of MDC Partners and as chairman of the Board of Directors, the agency company announced Monday evening. Scott Kauffman, who has served as presiding director on the company's board of directors, will succeed Mr. Nadal as chairman and CEO. big bean bag chairs canadaIrwin Simon, a current member of the board, has been appointed as presiding director.used wheelchair vans sale Mr. Nadal's retirement comes amid an SEC investigation, beginning in October, into MDC's accounting practices, trading information and Mr. Nadal's expenses. In May, the company said Mr. Nadal would pay back his employer $8.6 million, and that the investigation would be ongoing.

The company Monday evening also announced additional repayment by Mr. Nadal. "Mr. Nadal has agreed to repay to MDC Partners all expenses that were requested to be repaid by the Special Committee of the Board of Directors, including an additional $1.88 million that was recently identified," the company said in its statement. "In connection with his retirement, Mr. Nadal is required under the Company's Incentive/Retention agreements to repay $10.58 million in retention amounts received between 2012 and 2015. In addition, Mr. Nadal is not eligible for any compensation payments or severance." Additionally, Michael Sabatino, formerly chief accounting officer of MDC Partners, has resigned and agreed to repay the company $208,535 in cash bonus payments received between 2012 and 2014, the company said. Mr. Nadal is credited with building MDC into a mid-sized holding company and an investor darling known for its investments and ownership stakes in hot shops like 72andSunny, CP&B and KBS+.

He's known for fostering a culture that offers both support and independence to his shops and their leaders. An MDC spokeswoman said Monday night that Mr. Kauffman would build on MDC's success so far. "Under his leadership, we remain wholly committed to the values of innovation and partnership that drive us to attract the best talent in the industry, creating gains for our clients, and ultimately, performance for our shareholders," she said in an email. Stock in MDC hit a 52-week low Monday, but it may not be all bad. In a note to investors, Evercore's Tracy Young wrote: "We view this evening's announcement of Miles Nadal's retirement as largely positive and see his replacement, Scott Kauffman, who has served on MDCA's Board for the past nine years, as providing a seamless transition near term as the company continues its growth momentum. We view today's 6% stock decline to a 52 week low as unwarranted and expect some relief in the stock tomorrow although we would note that the SEC investigation remains ongoing, and are keeping our Hold rating.

Consolidated-Tomoka chairman to step down Feb. 27, 2017 4:21 PM ET |By:, SA News Editor Jeff Fuqua joined the board in 2009 as a nominee of the CTO's largest shareholder, Wintergreen Advisers. He became chairman in 2011. He's notified the company of his intention not to stand for re-election to the board at April's annual shareholder meeting. Wintergreen and Fuqua may have had a falling out as the investor sued CTO last week to have its slate of four board nominees presented at the April meeting. Fuqua: "I have decided to step down in what I believe are the best interests of the Company and its other shareholders, given the protracted attacks by Wintergreen, which have been an unfair distraction and resulted in substantial expense to our shareholders.” Now read: The Perfect Storm For Consolidated-Tomoka Land »After nearly a decade on the board, the chairman of the Delaware River Joint Toll Bridge Commission has stepped down. David DeGerolamo, of Phillipsburg, made the announcement Monday at the conclusion of a commission meeting, according to spokesman Joe Donnelly.

The chairman described the move -- effective immediately -- as retirement, Donnelly said. DeGerolamo was a Phillipsburg councilman when he was appointed to the bi-state commission in January 2006 by then-Gov. Richard Codey. He was first selected as chairman the end of that year. The toll bridge commission operates 20 spans, including 7 toll bridges, connecting New Jersey and Pennsylvania. Its governing board is comprised of five commissioners from each state, appointed by their respective governors. In February, legislators called for greater oversight of the commission after DeGeroloamo's employer, Hackettstown-based Intercounty Paving Associates LLC, was awarded a $6.32 million contract for construction work on the Portland-Columbia Toll Bridge. The chairman at the time said he recused himself from all votes and discussions. DeGerolamo and other local commissioners did not return calls for comment about his resignation. Gov. Chris Christie's office on Thursday confirmed receipt of DeGerolamo's resignation.