Valeant announces addition to board of directors

Valeant Pharmaceuticals International has announced that its board of directors has elected Richard (Dick) U. DeSchutter as a director, which increases the size of its board to 13 members, including 12 who are independent, according to a press release.

DeSchutter, who is retired, had served as chairman and CEO of DuPont Pharmaceuticals Company from July 2000 until it was acquired by Bristol-Myers Squibb in October 2001. He previously had served as a director and chief administrative office of Pharmacia Corp., which was created after the merger of Monsanto Company and Phamacia & Upjohn in 2000, according to the release.

His position on the board was effective Jan. 2.

“[DeSchutter’s] track record of pharmaceutical company leadership combined with his operational and financial advisory experience make him an ideal addition to our board,” Joseph C. Papa, chairman and CEO of Valeant, stated in the release.

Reference: www.valeant.com