Teva names former Sandoz chief Richard Francis as new CEO

Teva Pharmaceutical Industries Ltd. on Monday said its current CEO Kåre Schultz will retire on Dec. 31. Robert Francis, former CEO of Sandoz and an executive at Novartis AG and former executive at Biogen Inc. , will become the CEO of Teva. Francis is now the CEO of Purespring Therapeutics, a gene therapy company focused on kidney diseases, and CEO of Forcefield Therapeutics, a heart function specialist, as well as an operating partner for Syncona Investment Management Ltd. Schultz has been CEO of Teva since 2017. Shares of Teva fell 1.4% in premarket trades.

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