CEO of drug company Apotex, founded by Barry Sherman, steps down

By The Canadian Press

Apotex Inc. president and CEO Jeremy Desai has resigned effective immediately from the generic drug giant founded by the recently slain billionaire Barry Sherman.

A spokesman for the company declined to provide details on Desai’s departure other than to note he left “to pursue other opportunities” and that the company thanks him for his contributions.

Jack Kay, who previously served as CEO for the privately-held company, will once again step into the chief executive role while also maintaining his current position as vice-chairman.

Jeff Watson, who has 25 years with the company including most recently as president of global generics, has been appointed to the role of president and chief operating officer.

Barry Sherman and his wife Honey were found dead in their Toronto home on Dec. 15, with the cause of death determined to be “ligature neck compression.”

At a news conference on Friday, police said the couple was murdered in a targeted killing.

Sherman, who founded Apotex in 1974 and built it into a company with more than $2 billion in annual revenue, hadn’t been involved in day-to-day operations since stepping down as CEO five years ago.

With files from News Staff


Related stories:

Deaths of Barry and Honey Sherman a double homicide: police

Private investigators say Barry and Honey Sherman were murdered: reports

Apotex: succession plan for founder Barry Sherman was in place 5 years ago


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