AstraZeneca's CEO? We Still Don't Know If He's Staying or Going
July 14 2017 - 6:49PM
Dow Jones News
By Chip Cummins
LONDON -- The mystery surrounding the intentions of the chief
executive of AstraZeneca PLC, one of the world's largest
pharmaceutical firms, remains...a mystery.
Two days after an Israeli news report said Chief Executive
Pascal Soriot had agreed to take the top job at a rival drug giant,
Israel-based Teva Pharmaceutical Industries Ltd., AstraZeneca
continues to say it won't comment, labeling that report -- and more
recent reports that he is staying on -- as market rumors and
speculation.
A spokesman late Friday said Dr. Soriot would host the
presentation of the company's midyear financial results, expected
later this month. But the spokesman declined to say whether that
indicated Dr. Soriot was sticking around for the longer term.
A spokesman for Teva said it also wouldn't comment on market
rumors.
Shares of AstraZeneca fell sharply Thursday, after an Israeli
news site, Calcalist, reported the day before that Dr. Soriot had
agreed to take the top job at Teva. They ended London trading down
more than 3%. Despite the steep stock market drop, AstraZeneca has
repeatedly stopped short of denying the report.
On Friday, shares finished lower for the second day running,
falling another 0.29%, amid the uncertainty.
Write to Chip Cummins at chip.cummins@wsj.com
(END) Dow Jones Newswires
July 14, 2017 18:34 ET (22:34 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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