Kåre Schultz (21 May 1961) is a

Danish Danish may refer to: * Something of, from, or related to the country of Denmark People * A national or citizen of Denmark, also called a "Dane," see Demographics of Denmark * Culture of Denmark * Danish people or Danes, people with a Danish ance ...

business executive. He was appointed to be chief executive officer of

Teva Pharmaceutical Industries Teva Pharmaceutical Industries Ltd. (also known as Teva Pharmaceuticals) is an Israeli multinational pharmaceutical company with headquarters in Tel Aviv, Israel. It specializes primarily in generic drugs, but other business interests include ...

in September 2017.

Career

Schultz has a Cand.polit. degree from the

University of Copenhagen The University of Copenhagen ( da, Københavns Universitet, KU) is a prestigious public university, public research university in Copenhagen, Copenhagen, Denmark. Founded in 1479, the University of Copenhagen is the second-oldest university in ...

in 1987. He initially worked as a consultant for

Andersen Consulting Accenture plc is an Irish-American professional services company based in Dublin, specializing in information technology (IT) services and consulting. A ''Fortune'' Global 500 company, it reported revenues of $61.6 billion in 2022. Accen ...

in London and for

McKinsey & Company McKinsey & Company is a global management consulting firm founded in 1926 by University of Chicago professor James O. McKinsey, that offers professional services to corporations, governments, and other organizations. McKinsey is the oldest and ...

Copenhagen Copenhagen ( or .; da, København ) is the capital and most populous city of Denmark, with a proper population of around 815.000 in the last quarter of 2022; and some 1.370,000 in the urban area; and the wider Copenhagen metropolitan ar ...

. He began to work for

Novo Nordisk Novo Nordisk A/S is a Danish multinational pharmaceutical company headquartered in Bagsværd, Denmark, with production facilities in nine countries, and affiliates or offices in five countries. Novo Nordisk is controlled by majority shareholder ...

in 1989. He was appointed as executive vice president (staff and quality) in 2000, and became COO in 2002. In 2015, he was appointed as president and vice CEO. In April 2015, Schultz left Novo Nordisk to assume a position as CEO of

Lundbeck H. Lundbeck A/S (commonly known simply as Lundbeck) is a Danish international pharmaceutical company engaged in the research, development, manufacturing, marketing and sale of pharmaceuticals across the world. The company’s products are targe ...

. In September 2017, he was appointed as the new CEO of

. He arrived at the top executive position around the time a US Court ruled that the patent of

Copaxone Glatiramer acetate (also known as Copolymer 1, Cop-1), sold under the brand name Copaxone among others, is an immunomodulator medication used to treat multiple sclerosis. Glatiramer acetate is approved in the United States to reduce the frequenc ...

, the company's best-selling drug, had expired, allowing the competition to market the same product. In November 2017, he announced deep structural changes aiming to make the company more responsive in a region-centric distribution system. Many executives left the company. 1,700 layoffs were announced in the press. In 2018, he was remunerated $32.5 million, twice the amount of his 2017 remuneration. In July 2019, he stopped production of

Vincristine Vincristine, also known as leurocristine and marketed under the brand name Oncovin among others, is a chemotherapy medication used to treat a number of types of cancer. This includes acute lymphocytic leukemia, acute myeloid leukemia, Hodgkin' ...

, a critical drug used to treat the most common forms of childhood cancer, and was criticized by media for creating a worldwide shortage of the drug. He was the chairman of

Royal Unibrew Royal Unibrew is a brewing and beverage company headquartered in Faxe, Denmark. Its brands include Ceres, Faxe, Albani, Thor, Karlens and Royal. Royal Unibrew also has a strong presence in the Baltic region, where it owns Vilniaus Tauras, Ka ...

from 2010 until the end of December 2017. He has also been a member of

Lego Lego ( , ; stylized as LEGO) is a line of plastic construction toys that are manufactured by The Lego Group, a privately held company based in Billund, Denmark. The company's flagship product, Lego, consists of variously colored interlockin ...

's board of directors since 2007.

Personal life

Married to Marianne Schultz. Has three children.

References

{{DEFAULTSORT:Schultz, Kare Danish business executives 20th-century Danish businesspeople 21st-century Danish businesspeople Danish economists University of Copenhagen alumni 1961 births Living people