Siggi Oli Olafsson is stepping down as president and CEO of Teva Pharmaceutical's global generic medicines group.
The decision comes less than two-and-a-half years following Olafsson's appointment, and has caused concern among investors. Teva has appointed the company's existing CEO and president of Teva Generics Europe, Dipankar Bhattacharjee, as Olafsson's successor.
Teva referred to Olafsson's exit -- will take effect at the end of the first quarter of 2017 -- as a "retirement," despite the fact that the exec is only in his late 40s.
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