Valeant Announces Nominees For Election To Board Of Directors

Valeant Pharmaceuticals International, Inc. announced the nominees for election to its Board of Directors at the 2016 Annual Meeting of Shareholders on June 14, 2016. As previoulsy announced, Joseph C. Papa has been named Valeant's Chairman and Chief Executive Officer. Mr. Papa has been nominated for election to the Board, along with Robert A. Ingram, Robert N. Power and five of the current independent directors who were appointed to the Board in the last year: William A. Ackman, Dr. Frederic Eshelman, Stephen Fraidin, D. Robert Hale and Thomas W. Ross, Sr. In addition, the Nominating and Governance Committee has recommended three additional independent directors: Dr. Argeris N. Karabelas, Russel C. Robertson and Amy B. Wechsler, M.D.

J. Michael Pearson will step down as CEO and as a director upon Joe Papa's arrival as CEO.  Neither Mr. Pearson nor Howard B. Schiller will be standing for re-election. In addition, the following five current independent directors have informed the Board that they will not be standing for re-election at the 2016 annual meeting: Ronald H. Farmer, Colleen Goggins, Theo Melas-Kyriazi, G. Mason Morfit and Norma A. Provencio.