Hurvitz Jr., Elstein compete for Teva chair
Race for pharmaceutical company's chairmanship likely to start with position of vice chairman. Contenders are late Chairman Eli Hurvitz's son, other board members Amir Elstein and Dan Suesskind
The current deputy chairman, Professor Moshe Many, is expected to retire during 2012.
The most likely candidate for the chair once Frost retires, however, will be the vice chairman.
After Ruth Cheshin left the board in 2011 following her son's death, Chaim Hurvitz and Amir Elstein remain the only board members who belong to the founding families.
Chaim Hurvitz, son of the late Teva founder Eli Hurvitz, was appointed member of the board following the company's reorganization in 2010 in which Teva's international division was split from the company.
Hurvitz's management experience and the reverence for his late father make him one of two favorites to win.
Elstein, who was the company's president and executive vice president for global resources, joined the board of directors in 1995 and served as director until 2004. After having held various positions in the company's management, Elstein returned to the board and has since been a director.
In addition to his vast management experience in Teva, Elstein gained experience as chairman of Tower and of Israel Corporation.
The third contender, Dan Suesskind, who was Teva's CFO for three decades, was at the time considered Eli Hurvitz's right hand man and took part in turning Teva into a global pharmaceuticals corporation.
Two months before Eli Hurvitz retired Suesskind was appointed director, and sources with knowledge of the company believe he is the most suitable candidate to be the company's future chairman.
Professor Many said in response to this report, "I am not expected and have no plans to leave Teva's board of directors in the coming year."
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