As Valeant Points Finger At Howard Schiller, He Points To Controller

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Mark Melin
Published on
Updated on

Valeant’s former Chief Financial Officer Howard Schiller has stated he won’t leave the Valeant board as requested and is challenging the company’s statements on his performance. In probably one of the most abrasive palace coups in corporate history, Valeant Pharmaceuticals today shed its relationship with CEO and strategy architect Michael Pearson and asked the former CFO and one-time interim CEO Howard Schiller to leave the board. In a harshly worded press release announcing the management reshuffling, Valeant lashed out at Schiller, who today is defending himself and his conduct by, in part, pointing to the corporate controller. Howard Schiller -…

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.