Teva names Frost new chairman of the board

JERUSALEM The world’s largest maker of generic drugs has appointed a new chairman.

Teva Pharmaceutical Industries announced Tuesday the appointment of Phillip Frost. Frost, currently vice chairman, succeeds Eli Hurvitz, who informed the board that he wished to step down in order to focus on his recovery from a recently diagnosed but undisclosed illness, and Moshe Many, who had served as interim chairman in Hurvitz’s absence and will serve as vice chairman.

“We are all saddened by the circumstances that have caused this development,” Frost said in a statement. “We are all keenly aware of the unique role Eli Hurvitz has played for so long in Teva’s development, and I am sure that all the members of the board and all Teva’s employees join me in wishing Eli a speedy and full recovery.”