Valeant Pharmaceuticals Concludes CFO Search, Appoints former Goldman Sachs Executive

Specialty pharmaceutical company Valeant Pharmaceuticals International, Inc. recently announced the appointment of a former Goldman Sachs executive as its new chief financial officer.

According to a release from the company, Howard B. Schiller will be taking over as executive vice president and CFO on December 1. Schiller most recently served as chief operating officer for the banking division of Goldman Sachs, the company noted.

"The Board of Directors and I are delighted that Howard has agreed to join our company," J. Michael Pearson, chairman and chief executive officer of Valeant, said in a statement. "Howard brings an unquestioned intellect, tremendous relevant experience, an impressive track record of success, and a humble demeanor which will fit well with our company."

Schiller will reportedly succeed Philip W. Loberg, who is expected to remain with the pharmaceutical company in a different role, the release said.

The decision to name Schiller its new CFO comes one week after Valeant reported a third-quarter profit of $40.9 million, according to The Associated Press.