Newspaper article The Canadian Press

Apotex: Succession Plan for Founder Barry Sherman Was in Place 5 Years Ago

Newspaper article The Canadian Press

Apotex: Succession Plan for Founder Barry Sherman Was in Place 5 Years Ago

Article excerpt

Apotex: Succession plan in place 5 years ago

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TORONTO - Apotex Inc. says it wants to set the record straight about how the pharmaceutical company will be managed following the death of its founder, Barry Sherman, and his wife Honey.

Apotex says that Sherman, 75, hadn't been involved in day-to-day operations since he stepped down as chief executive officer five years ago.

Jeremy B. Desai has been president and CEO of Apotex Inc. since 2014 and, prior to that, the CEO's job had been transferred from Sherman to Jack Kay, who is now the company's vice-chairman.

Questions about the future of Apotex -- one of Canada's biggest generic drug makers -- arose after the bodies of the billionaire couple were found in their Toronto home last week. …

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