Valeant names Howard Schiller interim CEO

7 January 2016

Canadian drug maker Valeant Pharmaceuticals International (NYSE: VRX) said it has appointed Howard Schiller as interim chief executive.

The company’s current CEO Michael Pearson remains in hospital and is being treated for severe pneumonia. The drugmaker said its lead independent director Robert Ingram will serve as interim chairman.

Mr Ingram said: “As Pearson's medical leave continues, and the timing of his recovery and return remains uncertain, Howard will now step in as CEO on an interim basis. Howard's performance as Valeant's CFO, as well as his deep understanding of Valeant's operations, are excellent and we are grateful that he has agreed to take on this role."

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