Valeant Pharmaceuticals Appoints Thomas W. Ross, Sr. Lead Independent Director

Valeant Pharmaceuticals International, Inc.'s  Board of Directors appointed Thomas W. Ross, Sr. as its lead independent director. Mr. Ross, who has been a member of Valeant's Board since March 8, 2016, serves on the Board's Nominating and Corporate Governance Committee and is Chairperson of its Conduct and Compliance Committee.

"I am delighted that Tom will serve Valeant in this important role," said Joseph C. Papa, chairman and chief executive officer. "Tom's contributions to the Board have been invaluable, and I believe the Company will continue to benefit greatly from his insights and expertise as we move Valeant forward."

"I am pleased to expand my service to Valeant as its lead independent director," said Mr. Ross. "The Board is very pleased with our new CEO and Chairman, Mr. Papa, and we all share with Joe and the management team, a deep commitment to working with Valeant's strong assets and personnel to launch a new chapter in the Company's history."

Following the company's Annual Meeting of Shareholders, three new independent directors were elected to Valeant's Board, including: Dr. Argeris N. Karabelas, Russel C. Robertson and Dr. Amy B. Wechsler. Eight directors were re-elected -- Mr. Ross, William A. Ackman, Dr. Frederic Eshelman, Stephen Fraidin, D. Robert Hale, Robert A. Ingram, Robert N. Power and Joseph C. Papa.  In the past year, Valeant has significantly refreshed its Board, adding nine new directors and expanding the number of independent directors to 10 out of 11.