Valeant CEO 'on the road to recovery' after longer-than-expected hospital stay

Valeant Pharmaceuticals International Inc. Chief Executive Michael Pearson said Monday that unexpected complications have resulted in a longer hospital stay than he expected. Pearson made the comment in a memo to employees. The executive has been in hospital with pneumonia since late December. "I'm glad to say that I'm on the road to recovery and although the timing of my return remains uncertain, I look forward to being back at work when able," Pearson wrote. In early January, Valeant named former finance director Howard Schiller as interim CEO. Schiller was chief financial officer at Valeant from December 2011 through June 2015 and is currently a board member. He came to the company after a 24-year stint at Goldman Sachs.

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