UPDATE 1-Valeant plans to appoint new CEO as Pearson remains hospitalized - WSJ

Tue Jan 5, 2016 6:46pm EST
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Jan 5 (Reuters) - Valeant Pharmaceuticals International Inc is planning to appoint a new CEO as Chief Executive Michael Pearson remains hospitalized, the Wall Street Journal said, citing people familiar with the matter.

The new chief executive would replace the committee currently running the company, the newspaper said. (on.wsj.com/1RgeGHW)

Valeant's U.S.-listed shares were down about 6.6 percent at $94.24 in extended trading on Tuesday.

It remains unclear whether the new CEO appointment would be permanent, the Journal said.

Potential new chief executive candidates include Chief Financial Officer Robert Rosiello and Howard Schiller, a Valeant director who resigned as chief financial officer last year, the Journal reported.

The Canadian drugmaker last week said a group of company executives will immediately take over for its chief executive until he returns from medical leave.

The company had said that Pearson was being treated for severe pneumonia.

Valeant declined to comment on plans to appoint a new CEO. (Reporting by Sneha Banerjee in Bengaluru; Editing by Sriraj Kalluvila and Lisa Shumaker)