Teva has announced that Dr Jeremy Levin will succeed Shlomo Yanai as president and chief executive officer (CEO) of the company in May 2012.
The generic medicines specialist is appointing Dr Levin, a former senior executive for Bristol-Myers Squibb, based on his background of more than 25 years industry experience, as well as his leadership in creating research and business collaborations.
Prior to his spell with Bristol-Myers Squibb, he served as a global head of business development and strategic alliances at Novartis and as chief executive office of Cadus Pharmaceuticals.
He will take over from Mr Yanai following the current CEO's retirement from the company in order to pursue new business opportunities.
Dr Phillip Frost, chairman of the board of directors at Teva, said: "We wish him the best in his new endeavours and are appreciative that he will continue to be a valued advisor to the company following the leadership change."
This follows the appointment of Dr Rob Koremans as president and chief executive officer of its European division last month.