LAVAL, Quebec, July 28, 2016 /PRNewswire/ -- Valeant
Pharmaceuticals International, Inc. (NYSE: VRX and TSX: VRX) today
announced that the Board of Directors has appointed Ms.
Sarah B. Kavanagh to serve as a
director of the Board, effective July 22,
2016. With these changes, Valeant has increased the size of
its board to 12 members, 11 of whom are independent.
"We are pleased that Sarah has agreed to join Valeant's board,"
said Joseph C. Papa, chairman and
chief executive officer. "We want to ensure that Valeant's board is
a balanced group of individuals with complementary perspectives and
expertise. As a Canadian based company, Sarah's broad
experience in corporate finance and securities administration
matters in Canada makes her an
ideal addition to our Board of Directors."
From June 2011 through
May 2016, Ms. Kavanagh served as a
Commissioner, and since 2014 as Chair of the Audit Committee, at
the Ontario Securities Commission. She is currently a
director and Chair of the Audit Committee of Hudbay Minerals Inc.
and a Trustee and Chair of the Compensation and Governance
Committee of WPT Industrial REIT. In addition to her public
company directorships, she is a director and Chair of the Audit
Committee at the American Stock Transfer & Trust Company LLC
and the Canadian Stock Transfer Company, a director and Chair of
the Audit and Investment Committee of Sustainable Development
Technology Canada and a director of Canadian Tire Bank.
Between 1999 and 2010, Ms. Kavanagh served in various senior
investment banking roles at Scotia Capital Inc., including
Vice-Chair and Co-Head of Diversified Industries Group, Head of
Equity Capital Markets, Head of Investment Banking. Prior to
Scotia Capital, Sarah held several senior financial positions with
operating companies. She started her career as an investment
banker with a bulge bracket firm in NY. Ms. Kavanagh graduated from
Harvard Business School with a Masters
of Business Administration and received a Bachelor of Arts degree
in Economics from Williams College.
Ms. Kavanagh also completed the Directors Education Program
at the Institute of Corporate Directors in May 2011.
About Valeant
Valeant Pharmaceuticals International, Inc. (NYSE/TSX:VRX) is a
multinational specialty pharmaceutical company that develops,
manufactures and markets a broad range of pharmaceutical products
primarily in the areas of dermatology, gastrointestinal disorders,
eye health, neurology and branded generics. More information about
Valeant can be found at www.valeant.com.
Forward-looking Statements
This press release may contain forward-looking statements,
including, but not limited to, statements regarding Valeant's Board
of Directors. Forward-looking statements may generally be
identified by the use of the words "anticipates," "expects,"
"intends," "plans," "should," "could," "would," "may," "will,"
"believes," "estimates," "potential," "target," or "continue" and
variations or similar expressions. These statements are based upon
the current expectations and beliefs of management and are subject
to certain risks and uncertainties that could cause actual results
to differ materially from those described in the forward-looking
statements. These risks and uncertainties include, but are not
limited to, risks and uncertainties discussed in the Company's most
recent annual or quarterly report and detailed from time to time in
Valeant's other filings with the Securities and Exchange Commission
and the Canadian Securities Administrators, which factors are
incorporated herein by reference. Readers are cautioned not to
place undue reliance on any of these forward-looking
statements. These forward-looking statements speak only as of
the date hereof. Valeant undertakes no obligation to update any of
these forward-looking statements to reflect events or circumstances
after the date of this press release or to reflect actual outcomes,
unless required by law.
Contact Information:
Laurie W. Little
laurie.little@valeant.com
or
Elif McDonald
elif.mcdonald@valeant.com
514-856-3855
877-281-6642 (toll free)
Media:
Renée Soto
or
Chris Kittredge/Jared Levy
Sard Verbinnen & Co.
212-687-8080
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SOURCE Valeant Pharmaceuticals International, Inc.