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Dec 13, 2016

Three senior executives to leave Valeant

Valeant Pharmaceutical's head office is seen in Laval, Que.

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A trio of top managers at Valeant Pharmaceuticals (VRX.TO) are exiting the company.

Former Chief Financial Officer Rob Rosiello is leaving on New Year’s Eve. Executive Vice-President Ari Kellen, who is responsible for Bausch + Lomb in the U.S., is also leaving that day, according to a release published Monday night.

Executive Vice-President Anne Whitaker, whose departure was the only one framed as being voluntary, is set to leave in mid-January. Rosiello and Kellen’s departures were also voluntary, a spokesperson for Valeant told BNN via email. Tuesday.  

Rosiello and Kellen will continue to serve as consultants on an “ongoing basis,” the release said.

The management changes were revealed with the announcement that William Humphries will assume the role of executive vice-president of dermatology on Jan. 2, 2017.

"We are pleased to welcome another experienced leader to our team," Valeant Chairman and CEO Joseph Papa said in the release. "Bill has an unparalleled understanding of the dermatology and aesthetics space and a proven track record of successfully developing and commercializing products in these therapeutic areas. We look forward to his contributions as we continue working toward a recovery of our core prescription dermatology business."

Papa also thanked the departing executives for their contributions in the release.

"I sincerely thank Anne, Rob, and Ari for their contributions to Valeant and appreciate their efforts to stabilize the company during a period of transition," it read.

Valeant shares were up 1.19 per cent as of 9:35 a.m. ET Tuesday.