Valeant Pharma Appoints Paul Herendeen To Succeed Robert Rosiello As CFO

(RTTNews) - Valeant Pharmaceuticals International Inc. (VRX, VRX.TO) announced Monday that it has appointed Paul Herendeen as Executive Vice President, Finance and will take over the role of Chief Financial Officer from Robert Rosiello effective immediately.

Rosiello will remain at Valeant as Executive Vice President, Corporate Development and Strategy.

Herendeen has more than 30 years experience in finance and leadership. He joins Valeant from Zoetis (ZTS), where he served as Executive Vice President and CFO for the past two years. As Valeant CFO, he will oversee all of the company's finance functions, including: controllership, tax, and treasury. He will report directly to Chief Executive Officer Joseph Papa.

In his new role, Rosiello will assume responsibility for Corporate Development and Strategy and continues as EVP and an Executive Committee member, reporting directly to Joe Papa.

Papa said, "I consider Rob Rosiello a trusted colleague. At a critical time, he led our team through a financial restatement, oversaw the process of becoming current in our SEC filings, and spearheaded our efforts to strengthen our finance team, particularly by recruiting a new chief accounting officer."