Valeant has already seen some significant change at the top of its ranks this year, but the Canadian pharma isn’t done yet.
Monday, it said it would be welcoming some new execs into the fold and expanding the roles of some of its current leaders.
Among the new names is Novartis vet Christina Ackermann, who has signed on at Valeant as EVP and general counsel, replacing Robert Chai-Onn. Scott Hirsch, formerly of Citadel Investment Group, will join the team as SVP of business strategy and communications. On the flip side, Valeant will be parting ways with longtime investor and public relations leader Laurie Little, and Europe president and general manager Pavel Mirovsky.
Even some of those who aren’t coming or going will see their roles tweaked. EVP and company group chairman Ari Kellen will now head up the Bausch & Lomb eyecare business, while fellow EVP and company group chairman Anne Whitaker will supervise market access and branded pharma--including dermatology, women's health, the GI unit Salix and the cancer vaccine maker Dendreon. Valeant is also promoting Tom Appio to EVP and company group chairman, and he’ll lead Valeant’s markets outside the U.S. and Canada.
To top it off, CEO Joseph Papa has expanded the Quebec-based pharma’s executive committee, adding representatives from across the company who will now report to him directly.
The way Valeant sees it, the “series of changes and promotions” will “expand the roles of key senior leaders, align the company’s organizational structure with its go-forward strategy and position the company for sustained growth,” Valeant said in a statement.
The moves follow a number of other personnel edits that have come throughout the year as Valeant struggled to right the ship. At the top, of course, is Papa, who replaced longtime CEO and company architect J. Michael Pearson back in April. Prior to that swap, Deb Jorn--head of Valeant’s GI and troubled dermatology business--made her exit. Valeant’s director slate--which now includes activist investor Bill Ackman--has seen some changes, too.
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