Valeant Pharmaceuticals International Inc. announced several changes to the company’s board of directors early Friday, including that the company’s current chairman and chief executive officer, Michael Pearson, and the company’s former chief financial officer, Howard Schiller, would not be standing for re-election. Current board members Robert Ingram, the board’s chairman, and Robert Power would be re-nominated, Valeant said, as would five directors appointed in the last year, activist investor William Ackman, Dr. Frederic Eshelman, Stephen Fraidin, D. Robert Hale and Thomas W. Ross, Sr. Dr. Argeris N. Karabelas, Russel C. Robertson and Amy B. Wechsler, M.D. were three more director nominees. In addition to Pearson and Schiller’s exits, Valeant said five of the company’s current directors had said they wouldn’t stand for re-election: Ronald H. Farmer, Colleen Goggins, Theo Melas-Kyriazi, G. Mason Morfit and Norma A. Provencio.
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