LAVAL, Quebec, May 26, 2016 /CNW/ -- Valeant
Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX)
("Valeant") today announced that Sam
Eldessouky has been named Senior Vice President and
Corporate Controller effective May 31,
2016. Mr. Eldessouky, who has over 20 years of
experience in accounting and finance, joins Valeant from Tyco
International Plc, where he served since 2004, most recently as
Senior Vice President, Controller and Chief Accounting
Officer.
As a Senior Vice President and Corporate Controller, Mr.
Eldessouky will be responsible for directing global accounting and
financial reporting activities to ensure accurate and timely
compliance with all internal and external requirements, and he will
drive efficiencies and standardization throughout the global
accounting function to enhance the monthly close, consolidations,
controls and reporting processes. Mr. Eldessouky will report
directly to Valeant's Chief Financial Officer, Robert Rosiello.
"Sam is an experienced professional with a proven track record
of delivering results in a complex, global public company, and
we're pleased to have him lead Valeant's financial reporting
efforts going forward," said Robert
Rosiello, executive vice president and chief financial
officer.
"Financial reporting remains a key area of focus for us, and we
look forward to Sam's contributions as we enhance and bolster our
reporting structure and policies, and rebuild trust among
investors," stated Joseph C. Papa,
chairman and chief executive officer.
As Senior Vice President, Controller, and Chief Accounting
Officer for Tyco since 2011, Mr. Eldessouky was responsible
for overseeing the finance shared services functions, external
reporting, technical accounting, operational controllership,
valuation and M&A accounting, treasury accounting, global
consolidation, internal controls, accounting policy and training
programs. During his tenure, Mr. Eldessouky led the efforts to
redesign the controller's organization and the implementation of
Enterprise Performance Management framework, and he played a
significant role in the wholesale turnaround of Tyco's
business. He also played a key role in executing the spin-off
of Covidien and Tyco Electronics in 2006 and ADT NA and Flow
Control in 2012. Prior to this role, Mr. Eldessouky served in
a variety of positions at Tyco including Vice President and
Assistant Controller. Before joining Tyco, Mr. Eldessouky spent ten
years at PricewaterhouseCoopers (PwC), where he held several roles
of increasing responsibility and served in PwC's National Office
providing technical accounting guidance on complex accounting
matters.
Mr. Eldessouky has a Bachelor of Science in Accountancy from Ain
Shams University, and a Masters in Accounting and Finance from the
University of Liverpool. He is a
Certified Public Accountant and Chartered Global Management
Accountant. He is a member of the American Institute of
Certified Public Accountants and the Financial Executives
International. Mr. Eldessouky served as a member of the Global
Preparers Forum, an external advisory body to the International
Accounting Standards Board (IASB) from 2007 – 2013 and currently
serves as a member of the Board of Trustee of the Financial
Executives Research Foundation (FERF).
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, gastrointestinal disorders,
eye health, neurology and branded generics. More information about
Valeant can be found at www.valeant.com.
Contact Information:
Laurie W. Little
949-461-6002
laurie.little@valeant.com
Elif McDonald
905-695-7607
elif.mcdonald@valeant.com
Media:
Renée Soto
or
Chris Kittredge/Jared Levy
Sard Verbinnen & Co.
212-687-8080
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SOURCE Valeant Pharmaceuticals International, Inc.