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Valeant announced its CEO, J. Michael Pearson, will be on medical leave of absence after being hospitalized for pneumonia.
On Dec. 28, 2015 Valeant Pharmaceuticals International, Inc., announced that chairman and chief executive officer J. Michael Pearson will be on a medical leave of absence, effective immediately.
The company's board of directors has created an office of the chief executive officer (CEO), which will include Robert Chai-Onn, executive vice-president and general counsel, Ari Kellen, PhD, executive vice-president and company group chairman, and Robert Rosiello, executive vice-president and chief financial officer, to serve in an interim capacity.
In addition, the board of directors has created a committee to oversee and support the office of the CEO and will include Robert A. Ingram, lead independent director, G. Mason Morfit, president, ValueAct Capital, and Howard B. Schiller, former chief financial officer of Valeant.
Valeant confirmed last week that Pearson had recently been hospitalized and was being treated for a severe case of pneumonia.