Business Scene

Did he jump or was he pushed? The question is still being asked in the wake of the sudden resignation of Teva CEO Israel Makov.

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October 24, 2006 09:18
4 minute read.
israel makov 88

israel makov 88. (photo credit: )

 
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EVEN THOUGH she has given him her full support and has stated publicly that she doesn't care what happens so long as they stay together, Hannah Alexander, the wife of Kobi Alexander, former chairman and CEO of Comverse Technology who is awaiting extradition from Namibia to the US, has initiated legal proceedings that would entitle her to half of her husband's fortune which is estimated to be somewhere in the range of $250 million to $300m., Ma'ariv reported this week. As far as anyone knows, the marriage is still intact, but Hannah Alexander wants to salvage whatever funds she can before the American authorities get their hands on Alexander's assets. Alexander is wanted in the US on more than 30 counts of fraud, conspiracy, money laundering and related charges. He is now also accused of attempted bribery and obstructing a federal investigation. Though released on bail of $1.3m. by a Nambian judge, it is unlikely that Alexander will escape the long arm of American law. If convicted, he could spend the next 25 years in prison. Meanwhile, Hannah Alexander has hired attorney Yaacov Sidi, a specialist in family law to try to secure half of her husband's estate in her name. DID HE jump or was he pushed? The question is still being asked in the wake of the sudden resignation of Teva CEO Israel Makov, whose contract with the world's largest producer of generic drugs expires in February, 2007. There are conflicting reports about the reasons for his leaving the company. Some reports state that Teva chairman Eli Hurvitz refused to renew his contract. Others say that Makov who has been with Teva for 10 years, the last four-and-a-half as CEO, knew that it was not a "Catholic marriage," and that eventually, he would have to yield. His disagreements with several of the directors including the chairman's son Chaim Hurvitz, who heads Teva's international operations, may have led him to step down. Considering that he will continue to act as a strategic advisor to Teva for another two years, it may take just a little longer than that for the true story to come out - by which time not too many people will care. However, in the interim, the news sent shock waves through the business community and was reflected in the plummeting prices of Teva shares on the stock market. Teva's overseas acquisitions, which have made it so large an international company, can to a major extent be attributed to Makov, whose friends and supporters say was not happy about the way the announcement was handled with all of its negative connotations, even though he obviously knew his days as CEO were numbered. Another indication of his awareness that he would have more time on his hands was his recent takeover of the position of his deceased wife Nira, who died in July, as chairman of the Friends of Gesher Theater. Makov's departure from the leadership of Teva sends out a disturbing message not only to other CEOs but also to people of much lower rank. It doesn't matter how hard one works, or how much one achieves, there's no such thing as job security. AS AN offshoot of the Friends of the Netanya Academic College and in response to an initiative by Friends chairman Gideon Hamburger and NAC president Prof. Zvi Arad, the NAC on October 30 will launch the Academic Club at a festive dinner at the Dan Hotel in Tel Aviv. Guest of Honor will be Finance Minister Avraham Hirchson. SUPERSOL CHAIRMAN Avraham Biger and Supersol CEO Effie Rosenhaus have announced the official launch of the Supersol Private Label at an investment of NIS 3m. According to Rosenhaus, the decision to introduce the private label was part of a strategy to improve quality and give better value for money. It was also meant to put Israel on a par with supermarket chains abroad, which have been selling under private label for many years. Over the past two or three years, Supersol has gradually introduced a series of toiletries and food and pharm products under its own label. Currently, there are some 300, but the company plans to introduce a minimum of 50 new products a month, and hopes to be have 1,300 of its own products on sale by the end of 2008. IN OTHER Supersol news, Yaron Dor, the company's vice president marketing, has announced his candidature for the chairmanship of the Israel Advertisers Association. Dor who is a member of the IAA board and chairs its finance committee, is also one of its Marketing Man of the Month laureates, having won the honor in 2003. Before joining Supersol, Dor was CEO of NewPharm, and prior to that held senior managerial positions with Strauss and Unilever. Also competing for the IAA chairmanship is Yehudi Lipman, general manager of Nestle Ice Creams. Lipman who has been in his present job for only six months, spent the previous 12 years with Unilver. Like Dor, he is a Marketing Man of the Month laureate, having won the honor in October 2004. Current IAA chairman Ofer Bloch, who is the CEO of Netafim, has announced that he will not stand for another term. THE TALIT Group has announced the appointment of Alon Lavi, 48, as sales and marketing manager of its DAI Telcom division. Lavi comes to his new post from Cellcom where he spent seven years in various managerial positions, mostly recently as head of services and advanced products in the marketing division. Before joining Cellcom, Lavi worked as an operations manager for Barak 013, and prior to that was head of the communications division of Gad Engineering. Lavi has a degree in industrial engineering from the New York Polytechnic.

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