Valeant names interim CEO in Pearson’s absence
pharmafile | January 6, 2016 | Appointment | Medical Communications, Sales and Marketing | Valeant
Valeant has named company director Howard Schiller as interim chief executive officer to serve while full-time boss Michael Pearson is absent on medical leave.
Speculation is growing that the embattled chief executive, currently on leave after being hospitalised with pneumonia, may never return.
The company, which in recent months has been rocked by allegations of fraud, announced on 28 December that Pearson had been hospitalised with a severe case of pneumonia and had been granted a leave of absence.
The board created an ‘office of the chief executive officer’, including general counsel Robert Chai-Onn; company group chairman Dr Ari Kellen; and chief financial officer Robert Rosiello, to serve in an interim capacity.
But Valeant now appears to be seeking a more long-term solution, as the company attempts to start the New Year with a clean slate. It is believed there is a possibility that Pearson may not return to his job at all after recovering from his illness.
Valeant is keen to move on from allegations that the Canada-based pharma company was using specialty pharmacies, including Philidore, to manipulate prescriptions and inflate revenue figures – claims Pearson denied.
Schiller comments: “Valeant is a strong company with a collection of great franchises and strong healthcare brands, innovative strategies and an exceptionally productive approach to R&D. I appreciate the confidence the board has placed in me as I step into this role while Mike focuses on his health. Our future is incredibly bright and I am looking forward to working with the rest of the senior leadership, as well as the entire Valeant team, to continue to execute on our strategic plan.”
Joel Levy
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