Valeant Pharmaceuticals has appointed Howard B. Schiller as interim CEO of Valeant, effective immediately. Schiller served as the company’s CFO from December 2011 through June 2015 and currently serves on its Board of Directors. He is also on the business advisory council of the University of Chicago Law School.
In addition, Robert Ingram, lead independent director, will serve as interim chairman of the Board of Directors. Ingram has been serving on Valeant’s Board since September 2010 and was the chairman from December 2010 to March 2011.
J. Michael Pearson remains in the hospital where he is being treated for severe pneumonia, and he will be on a medical leave of absence until further notice.
“We appreciate the expressions of support and concern for Mike's health that we have received from Valeant's investors, employees, business partners and other stakeholders. While Mike's illness was sudden and unexpected, our strong management team has stepped in to keep our businesses on track and thriving,” said Ingram.
