Valeant names new corporate controller

27 May 2016

Embattled Canadian drug company Valeant Pharmaceuticals International (TSX: VRX) has named Tyco International (Nasdaq: TYC) executive Sam Eldessouky as corporate controller and a senior vice president as it tries rebuild its reputation after a string of controversies.

The latest move follows an admission that "improper conduct" by former chief financial officer Howard Schiller and former corporate controller Tanya Carro had contributed to a mis-statement of its financial results.

Mr Eldessouky's appointment follows the replacement of Michael Pearson as chief executive by Joseph Papa, former boss of drugmaker Perrigo (Nasdaq: PRGO), and the resignation of former executive vice president Deb Jorn.

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