LAVAL, Quebec, April 29, 2015 /CNW/ -- Valeant Pharmaceuticals
International, Inc. (NYSE: VRX) (TSX: VRX) today announced that
Howard B. Schiller has advised the
Company of his decision to step down as Chief Financial Officer
once a successor is appointed. In order to facilitate a smooth
transition, Mr. Schiller will remain in his current position as the
search for his replacement proceeds. With the support of
Valeant's Board of Directors, Mr. Schiller will remain on the
Valeant Board and, with the Board's continued recommendation,
intends to stand for re-election as a director at the annual
shareholder meeting in May.
"Over the past few years, Howard has been an integral part of
the management team at Valeant – his unwavering commitment,
tireless work ethic, strong intellect and good judgment have helped
increase our market capitalization from under $14 billion when he joined to nearly $70 billion today, while positioning the company
for sustainable growth and continued success," said J. Michael Pearson, Valeant's chairman and chief
executive officer. "We are grateful that Howard has agreed to
remain in his current role as CFO while we conduct a search for his
successor and look forward to his continued involvement with
Valeant as a Board member. On behalf of the entire Valeant team, I
want to thank Howard for his dedicated service to Valeant and wish
him all the best in his future endeavors."
Mr. Schiller stated, "My time at Valeant has been incredible,
and I am very proud of all that we have accomplished together.
Although I am leaving to pursue new opportunities most likely in
areas outside of a publicly-traded company, I look forward to
working closely with Mike and the rest of the management team to
ensure a seamless transition of my CFO responsibilities and to
continuing to serve on the Board of a company with enormous
potential to deliver even more long-term value for
shareholders."
Mr. Schiller, 53, joined Valeant in December 2011 as Chief Financial Officer and was
appointed to the Board of Directors of Valeant in September 2012.
The Company also announced today that Anne C. Whitaker, former President and Chief
Executive Officer of Synta Pharmaceuticals, will join Valeant's
Executive Management Team as Executive Vice President and Company
Group Chairman.
Pearson added, "Anne is an accomplished pharmaceutical executive
with more than 24 years of experience in key leadership roles
across healthcare sales, marketing and commercial management both
in the GI space and oncology. She also has a proven track record of
success in delivering sustainable growth and profitability, and we
look forward to her contributions to Valeant."
Anne C. Whitaker Biography
Ms. Whitaker most recently served as President, Chief Executive
Officer and a member of the Board of Directors of Synta
Pharmaceuticals Corp., a biopharmaceutical company focused on
research, development and commercialization of novel oncology
medicines. During her time as CEO, Ms. Whitaker was recognized for
her work in streamlining the organization and prioritizing its rich
pipeline opportunities. Prior to joining Synta Pharmaceuticals, Ms.
Whitaker served as President, North America Pharmaceuticals, at
Sanofi, where she oversaw all pharmaceutical and consumer
healthcare operations within the region. Previously, Ms. Whitaker
held various leadership positions at GlaxoSmithKline, including
Senior Vice President and Business Unit Head, Cardiovascular,
Metabolic and Urology (CVMU) and Senior Vice President of
Leadership and Organization Development.
About Valeant
Valeant Pharmaceuticals International, Inc. (NYSE/TSX:VRX) is a
multinational specialty pharmaceutical company that develops,
manufactures and markets a broad range of pharmaceutical products
primarily in the areas of dermatology, eye health, neurology and
branded generics. More information about Valeant can be found at
www.valeant.com.
Forward-looking Statements
This press release may contain forward-looking statements,
including, but not limited to, statements regarding the successful
search and appointment for a chief financial officer.
Forward-looking statements may generally be identified by the use
of the words "anticipates," "expects," "intends," "plans,"
"should," "could," "would," "may," "will," "believes," "estimates,"
"potential," "target," or "continue" and variations or similar
expressions. These statements are based upon the current
expectations and beliefs of management of Valeant and are subject
to certain risks and uncertainties that could cause actual results
to differ materially from those described in the forward-looking
statements. These risks and uncertainties include the risks and
uncertainties discussed in Valeant's most recent annual or
quarterly report and detailed from time to time in Valeant's other
filings with the Securities and Exchange Commission (the "SEC") and
the Canadian Securities Administrators, which factors are
incorporated herein by reference. Readers are cautioned not to
place undue reliance on any of these forward-looking statements.
These forward-looking statements speak only as of the date
hereof. Valeant undertakes no obligation to update any of
these forward-looking statements to reflect events or circumstances
after the date of this press release or to reflect actual
outcomes.
Contact Information:
Laurie W. Little
949-461-6002
laurie.little@valeant.com
Media:
Renee E. Soto/Meghan Gavigan
Sard Verbinnen & Co.
212-687-8080
rsoto@sardverb.com / mgavigan@sardverb.com
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SOURCE Valeant Pharmaceuticals International, Inc.