Valeant board issues statement on CEO's cooperation with Senate Committee on Aging

Valeant Pharmaceuticals International's Board of Directors issued a statement in a press release regarding the Senate Committee on Aging's subpoena to depose J. Michael Pearson, Valeant's CEO.

"The board has requested Mr. Pearson's cooperation in connection with a subpoena for deposition from the Senate Committee on Aging prior to the Committee's scheduled April 27 hearing," the release stated. "The board understands that Mr. Pearson is in dialogue with the Senate Committee on Aging regarding his deposition and that those discussions are ongoing."

Valeant announced in March that it has initiated a search for a new CEO to succeed Pearson and has made changes to its board of directors.

Pearson will continue to serve as CEO and a director until a replacement is appointed, according to the March announcement.

Reference: www.valeant.com