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Volatile Valeant Substitutes Schiller For Ailing CEO

 
• By Donna Young

With investors growing increasingly edgy over the lingering absence of Valeant Pharmaceuticals International Inc.'s ailing chairman and CEO Michael Pearson – whose hospitalization late last month due to severe pneumonia came in the midst of the company's struggle to rebuild its image after being mired in a scandal over its business practices – the firm's board on Jan. 6 appointed former chief financial officer Howard Schiller to take the helm in the interim.

With investors growing increasingly edgy over the lingering absence of Valeant Pharmaceuticals International Inc.'s ailing chairman and CEO Michael Pearson – whose hospitalization late last month due to severe pneumonia came in the midst of the company's struggle to rebuild its image after being mired in a scandal over its business practices – the firm's board on Jan. 6 appointed former chief financial officer Howard Schiller to take the helm in the interim.

Investors were initially skittish on the news about Valeant's move to substitute Schiller for Pearson – pushing shares of the...

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