Valeant Shares Rise on New CFO Appointment

Shares of Valeant Pharmaceuticals (VRX) were higher Monday on news that company named a new CFO. The Canadian drugmaker named Paul Herendeen, former Zoetis  (ZTS) - Get Report CFO, to fill the position. Herendeen replaces Robert Rosiello, who will remain at Valeant as Executive Vice President, Corporate Development and Strategy. CEO Joseph Papa said in a statement that Herendeen's prior experience, strong operational focus and disciplined approach to financial management make him the ideal choice to lead the company's finance function as it executes on plans to stabilize and transform the company.

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