Valeant : Three New Independent Directors Nominated To Board

(RTTNews) - Valeant Pharmaceuticals International Inc. (VRX, VRX.TO) announced the nominees for election to its Board of Directors at the 2016 Annual Meeting of Shareholders on June 14, 2016. Three New Independent Directors has been nominated for election to the Board.

As announced on April 25, 2016, Joseph C. Papa has been named Valeant's Chairman and Chief Executive Officer. Papa has been nominated for election to the Board, along with Robert Ingram, Robert N. Power and five of the current independent directors who were appointed to the Board in the last year: William Ackman, Frederic Eshelman, Stephen Fraidin, 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 Robertson and Amy Wechsler.

As previously announced, Michael Pearson will step down as CEO and as a director upon Joe Papa's arrival as CEO. Neither 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, Mason Morfit and Norma Provencio.