This time last year, the chairman and chief executive officer of Israel’s Teva Pharmaceutical Industries Ltd., the world’s biggest generic drugmaker, were foreigners. Miami billionaire Phillip Frost led the board and Jeremy Levin, a South African, was CEO. They were the first non- Israelis to hold those positions.
Neel Kashkari, the former head of global equities at Pacific Investment Management Co., said Pimco founder Bill Gross and his former co-head of investments Mohamed El-Erian had a “constructive” relationship during the time Kashkari was at the firm.
Italian Prime Minister Matteo Renzi won his first confidence vote in the Chamber of Deputies, demonstrating the ability to build majorities in both houses of parliament even as allies expressed their doubts.
Apple Inc. is known for producing great products, like the iPod. Now Google Inc. with its acquisition of Nest Labs Inc. and its Apple alumni founder Tony Fadell, is hoping it produces great leaders who can replicate that success as well.
Activist investor Carl Icahn dropped his campaign urging Apple Inc. to buy back $50 billion of stock this year, after the company stepped up repurchases and a proxy- advisory firm criticized his efforts as micromanagement.