President and CEO of Israeli Teva Pharmaceutical Industries Jeremy Levin stepped down from his post Wednesday, in a move that analysts describe as an "earthquake " for the world's biggest generic drugs manufacturer.
In an announcement to the Tel Aviv Stock Exchange, Israeli- based Teva announced Wednesday that Eyal Desheh, who has served at Teva for over 12 years, including the last five as Chief Financial Officer, would fill the role on an interim basis, effective immediately.
Following the announcement, the trade of Teva's stocks was temporarily halted. However, the company said it would release Thursday its third quarter financial report, as scheduled previously.
Previously, on Monday Levin denied that he had any intention to resign from his position.