Teva says CEO Makov to retire in 2007

NEW YORK, Oct 18 (Reuters) Teva Pharmaceutical Industries Ltd. on Wednesday said Chief Executive Officer Israel Makov has announced plans to retire during 2007.

Makov, 67, will be replaced by Shlomo Yanai, who will join the company as president and CEO-designate during the first part of 2007, the Israel-based generic drug maker said.

Yanai will join Teva from Makhteshim Agan Industries Ltd., a manufacturer and distributor of generic crop protection chemicals, Teva said.

''Today's announcement is part of our planned succession strategy,'' Eli Hurvitz, Teva's board chairman, said in a statement.

REUTERS DKS HS1946