Robert L. Rosiello to Remain
at Valeant as Executive Vice President, Corporate Development and
Strategy
LAVAL, Quebec, Aug. 22, 2016 /PRNewswire/ -- Valeant
Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) today
announced that Paul S. Herendeen has
been appointed Executive Vice President, Finance and will take over
the role of Chief Financial Officer from Robert L. Rosiello effective immediately.
Mr. Rosiello will remain at Valeant as Executive Vice President,
Corporate Development and Strategy.
Mr. Herendeen has more than 30 years of broad financial
experience and leadership, including 16 years as CFO of Warner
Chilcott and MedPointe. He joins Valeant from Zoetis, where
he served as Executive Vice President and CFO for the past two
years. As Valeant CFO, he will oversee all of the company's
finance functions, including: controllership, tax, and treasury,
reporting directly to chief executive officer Joseph C. Papa.
"Paul is an accomplished and well respected financial executive,
and we are delighted to welcome him to Valeant," said Mr. Papa.
"His prior experience as a public company CFO, strong operational
focus and disciplined approach to financial management make him the
ideal choice to lead our finance function as we execute on our
plans to stabilize and transform the company. As we move forward,
Paul and the other members of the executive management team will
play vital roles in shaping the new Valeant."
Mr. Herendeen stated, "I am pleased to bring my experience and
financial expertise to Valeant at this important point in its
transformation, and I look forward to working with the leadership
team and my finance colleagues to contribute to the company's
future success."
In his new role, Mr. Rosiello will assume responsibility for
Corporate Development and Strategy and continues as EVP and an
Executive Committee member, reporting directly to Joe Papa.
"I consider Rob Rosiello a
trusted colleague," said Mr. Papa. "At a critical
time, he led our team through a financial
restatement, oversaw the process of becoming current in
our SEC filings, and spearheaded our efforts to
strengthen our finance team, particularly by recruiting a new
chief accounting officer. Rob's integrity, work ethic and
business acumen will be assets as
we further develop our strategies to
improve people's lives with our healthcare
products."
"Paul's background and strong reputation as a public
company CFO make him the ideal person to lead Valeant's finance
function," said Mr. Rosiello. "In my new role I will leverage
thirty-plus years of experience in corporate strategy to continue
to work with Valeant's top team for the benefit of our
stakeholders."
Paul S. Herendeen Biography
Paul S. Herendeen is Executive
Vice President, Finance and Chief Financial Officer of Valeant
Pharmaceuticals International, Inc. Prior to joining Valeant,
he served as Executive Vice President and Chief Financial Officer
of Zoetis Inc. for two years. From 2005 to 2013 and from 1998 to
2001, Mr. Herendeen served as CFO at Warner Chilcott, a specialty
pharmaceuticals company. He rejoined Warner Chilcott after four
years as EVP and CFO of MedPointe, a privately held health care
company, where he served as CFO from 2001 until 2005. Prior to
that, Mr. Herendeen spent nine years as a principal investor at
both Dominion Income Management and Cornerstone Partners, where he
worked on investments as well as mergers and acquisitions for the
firms and their portfolio companies. He also spent the early
part of his career in banking and public accounting, having held
various positions with the investment banking group of Oppenheimer
& Company, the capital markets group of Continental Bank
Corporation, and as a senior auditor with Arthur Andersen &
Company.
Mr. Herendeen earned a Master of Business Administration
(MBA) from the University of
Virginia's Darden School of
Business, and holds a bachelor's degree in Business Administration
from Boston College.
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.
Forward-looking Statements
This press release may contain forward-looking statements,
including, but not limited to, the Company's transformation and
future success. 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 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, but are not
limited to, risks and uncertainties discussed in the Company's most
recent annual or quarterly report and detailed from time to time in
Valeant's other filings with the Securities and Exchange Commission
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,
unless required by law.
Contact Information:
Investors:
Elif McDonald
elif.mcdonald@valeant.com
514-856-3855
877-281-6642 (toll free)
Media:
Renée Soto
or
Chris Kittredge/Jared Levy
Sard Verbinnen & Co.
212-687-8080
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SOURCE Valeant Pharmaceuticals International, Inc.