Israel's blue-chip share index has risen 5 percent this year. Landa, however, pointed out that since Frost took the helm in 2010, the stock is down 10 percent, even with this year's rally, compared with a 74 percent rise in the S&P 500. NEW CHAIRMAN Landa also said he was told by board member Moshe Many, who is leading the search committee for a new chairman, that the board has already decided on vice chairman Elstein. A spokesman for Teva said there was no decision yet. "No decision has been made regarding the identity of Teva's next chairman. A committee led by (board members) Moshe Many and Yossi Nitzani is currently engaged in a selection process," the spokesman said in a statement to Reuters. If Elstein is chosen, he would replace Frost, Teva's largest individual shareholder with a 1.53 percent stake, who said last month he would step down as chairman by the end of this year.