In search of a cure
February 17, 2014 18:09
Erez Vigodman, the new CEO of Teva, Israel’s premier global company, has to work fast to pull the conglomerate out of crisis.
(photo credit:REUTERS/Ronen Zvulun)
”WHAT CAN, and perhaps will, go wrong? What causes you to lose sleep at night? What is your worst nightmare? Suppose it has already come true; what action did you take?” These are questions that Yoram Yahav, former CEO of the Technion Institute of Management, together with me and our TIM team, constantly fired at senior managers of startups and established global hi-tech firms with whom we worked. Yahav currently heads the Yoyah Group, a global strategic consulting group. TIM closed in 2009 after over a decade of activity.One of TIM’s objectives was to help Israel’s global business leaders grapple with future uncertainties and face them head on. Our largest client was Teva Pharmaceuticals Ltd., Israel’s flagship global firm. Yahav recalls presenting the late Teva CEO and chairman, Eli Hurvitz, years ago with this gloomy crisis scenario: “Sales of Copaxone, Teva’s blockbuster multiple sclerosis [MS] drug, drop to a record low.”