(WXXI News & Reuters) Valeant Pharmaceuticals, the parent company of Bausch + Lomb, says that Michael Pearson is returning as CEO after he took a medical leave of absence last December. Pearson was hospitalized for treatment of severe pneumonia.
Howard Schiller has been the company's interim CEO, and he will continue on as a member of the board of directors.
Robert Ingram has been named Chairman of the Board, since Valeant has now separated the roles of Chairman and CEO.
Pearson issued a statement saying that he realizes recent events "are disappointing to everyone" and he says it is his responsibility to set the appropriate tone for the organization. He says his immediate priority will be to build stronger relationships with important constituents while improving Valeant's financial reporting procedures, internal controls and transparency.
The company said will also delay a conference call scheduled for Monday and withdraw its financial guidance for 2016. Last week, it said it would delay filing its audited 2015 annual report with the SEC and planned to restate some revenues and earnings from 2014 and 2015.
