Valeant names new chief financial officer

Valeant Pharmaceuticals announced it has appointed Paul S. Herendeen as its executive vice president, finance, and chief financial officer.

Herendeen will take over the CFO position from Robert L. Rosiello, who will remain with the company as executive vice president, corporate development and strategy, according to a press release.

Herendeen served 16 years as CFO of Warner Chicott and MedPointe, according to the release. He most recently served as executive vice president and CFO for Zoetis before coming to Valeant.

“[Herendeen’s] prior experience as a public company CFO, strong operational focus and disciplined approach to financial management make him the ideal choice to lead our finance function as we execute on our plans to stabilize and transform the company,” Joseph C. Papa, Valeant CEO, stated in the release.

Rosiello assumes responsibility for corporate development and strategy.

“At a critical time [Rosiello] led our team through a financial restatement, oversaw the process of becoming current in our SEC filings and spearheaded our efforts to strengthen our financial team, particularly by recruiting a new chief accounting officer,” Papa stated in the release.

Reference: www.valeant.com