Valeant Pharmaceuticals Announces the Addition of D. Robert Hale to its Board of Directors


Valeant Pharmaceuticals International, Inc. today announced the addition of D. Robert Hale, Partner of ValueAct Capital, to its board of directors and the resignation of Jeffrey W. Ubben, CEO and CIO of ValueAct Capital.


LAVAL, Quebec


Aug. 25, 2015

/PRNewswire/ --

Valeant Pharmaceuticals International, Inc.

(NYSE: VRX) (TSX: VRX) today announced the addition of

D. Robert Hale

, Partner of

ValueAct Capital

, to its board of directors and the resignation of

Jeffrey W. Ubben

, CEO and CIO of

ValueAct Capital

, effective as of

August 19

, 2015.

ValueAct Capital

, an investment firm based in

San Francisco

with over

$20 billion

under management, owns approximately 4% of the outstanding stock of Valeant, and has been a shareholder in Valeant since 2006. As a Partner and member of the investment team of

ValueAct Capital

, Hale has worked closely with the board and management team of Valeant since January 2011. Hale will be the fourth Partner of

ValueAct Capital

to serve on the Valeant Board, following

Mason Morfit


Brandon Boze

, and

Jeff Ubben


"Over the past year, Jeff brought a strong shareholder perspective to our Board of Directors, and we have immense gratitude for his service," said

J. Michael Pearson

, chairman and chief executive officer of Valeant. "We are delighted that we will continue to have Board representation from

ValueAct Capital

, a committed shareholder with a focus on long term value creation. We have gotten to know Rob well over the past five years and are glad that he will now serve as a Director. Rob's strategic and financial expertise will add a valuable perspective to our Board."

"I'm pleased to join Valeant's board of directors," said

D. Robert Hale

. "It's an exciting time for Valeant as the company positions itself for long-term growth and leadership in the pharmaceuticals and medical products industry. I look forward to working more closely with the company's leadership team and the board of directors to build on the company's success in the years to come."

Jeffery W. Ubben

stated, "I have had a wonderful experience serving as a Director of Valeant. Valeant has been a key contributor to

ValueAct Capital's

success over the past nine years, and after serving on the Board I have an even greater appreciation for the quality of the Board and management and for the long term potential of the company. While I will no longer serve as a Director, I look forward to working with

Mike Pearson

and the Valeant team as an interested shareholder on an ongoing basis."

D. Robert Hale

is a Partner of

ValueAct Capital

. Prior to joining

ValueAct Capital


January 2011

, Mr. Hale was a Principal with

The Parthenon Group

, working in both the




offices of Parthenon's strategic consulting practice, as well as in an investment role at Parthenon's long-short public equity vehicle,

Strategic Value Capital

. Mr. Hale is a director of

MSCI, Inc.

He has an A.B. from

Dartmouth College.

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