23 August 2016 - - Canadian specialty pharmaceutical company Valeant Pharmaceuticals International, Inc. (NYSE: VRX) (TSX: VRX) has appointed Paul S. Herendeen as executive vice president, finance and will take over the role of chief financial officer from Robert L. Rosiello effective immediately, the company said.

Rosiello will remain at Valeant as executive vice president, Corporate Development and Strategy.

Herendeen has more than 30 years of broad financial experience and leadership, including 16 years as CFO of Warner Chilcott and MedPointe.

He joins Valeant from Zoetis, 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, reporting directly to chief executive officer Joseph C. 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.

Paul S. Herendeen is executive vice president, finance and chief financial officer of Valeant Pharmaceuticals International, Inc.

Prior to joining Valeant, he served as executive vice president and chief financial officer of Zoetis Inc. for two years.

From 2005 to 2013 and from 1998 to 2001, Herendeen served as CFO at Warner Chilcott, a specialty pharmaceuticals company.

He rejoined Warner Chilcott after four years as EVP and CFO of MedPointe, a privately held health care company, where he served as CFO from 2001 until 2005.

Prior to that, Herendeen spent nine years as a principal investor at both Dominion Income Management and Cornerstone Partners, where he worked on investments as well as mergers and acquisitions for the firms and their portfolio companies.

He also spent the early part of his career in banking and public accounting, having held various positions with the investment banking group of Oppenheimer and company, the capital markets group of Continental Bank Corp., and as a senior auditor with Arthur Andersen and company.

Valeant Pharmaceuticals develops, manufactures and markets a range of pharmaceutical products primarily in the areas of dermatology, gastrointestinal disorders, eye health, neurology and branded generics.