Valeant appoints new CFO, new chief quality officer

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Valeant appointed Paul S. Herendeen as executive VP of Finance and chief financial officer. Herendeen took over the CFO role from Robert L. Rosiello, who remains at Valeant as executive VP, Corporate Development and Strategy.

The company touts Herendeen’s more than 30 years of broad financial experience and leadership, including 16 years as chief financial officer of Warner Chilcott and MedPointe. He joined Valeant from Zoetis, where he served as executive VP and CFO for the past two years. As Valeant CFO, he oversees all of the company’s finance functions, including controllership, tax and treasury. Herendeen reports directly to CEO Joseph C. Papa.

“Paul is an accomplished and well respected financial executive, and we are delighted to welcome him to Valeant,” Papa says. “His prior experience as a public company CFO, strong operational focus and disciplined approach to financial management make him the ideal choice to lead our finance function as we execute on our plans to stabilize and transform the company. As we move forward, Paul and the other members of the executive management team will play vital roles in shaping the new Valeant.”

Rosiello continues to report directly to Papa. “I consider Rob Rosiello a trusted colleague,” Papa says. “At a critical time, he led our team through a financial restatement, oversaw the process of becoming current in our SEC filings, and spearheaded our efforts to strengthen our finance team, particularly by recruiting a new chief accounting officer. Rob’s integrity, work ethic and business acumen will be assets as we further develop our strategies to improve people’s lives with our healthcare products.”

From 2005 to 2013 and from 1998 to 2001, Herendeen served as chief financial officer at Warner Chilcott, rejoining the company after four years as executive VP and CFO of MedPointe – a privately held health care company – where he served as CFO from 2001 until 2005. Before 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 & Company, the capital markets group of Continental Bank Corporation, and as a senior auditor with Arthur Andersen & Company.

He holds an MBA from the University of Virginia’s Darden School of Business, and a bachelor’s degree in business administration from Boston College.

Louis W. Yu, Ph.D. joined Valeant as chief quality officer, Global Quality, in October. He also reports to Papa, and as a new member of Valeant’s Executive Committee, oversees all aspects of quality and regulatory compliance for all of Valeant’s global businesses and operating sites.

Dr. Yu joined Valeant with more than 30 years of leadership experience in the quality and R&D functions of generic and branded pharmaceutical companies. He was executive VP, Global Quality & Compliance at The Perrigo Company from November 2006 to January 2016, where he was responsible for strategic leadership and regulatory compliance as well as the global patient safety/medical affairs departments. He also served between May and September 2016 as the senior VP, Global Quality and Compliance at AMRI, a contract development and manufacturing organization.

“Delivering quality products leads to quality health outcomes, and that is what we are focused on at Valeant,” Papa says. “Dr. Louis Yu is a great addition to our organization, and we are delighted to bring him into the company in the important new role of chief quality officer. Dr. Yu’s deep quality leadership experience at a number of branded and generic pharmaceutical companies gives him a deep understanding of what our customers and regulators need, and I look forward to working closely with him.”

Before Perrigo, Dr. Yu served as the highest quality officer for CV Therapeutics, Forest Laboratories, and Solvay Pharmaceuticals USA. Earlier in his career, he served in the quality and R&D organizations for more than 16 years at various Johnson & Johnson companies in positions of increasing responsibility. He has been an adjunct professor at the School of Pharmacy, the University of Wisconsin, and currently is an adjunct faculty at the Purdue Polytechnic Institute in West Lafayette. Dr. Yu earned a B.S. in chemistry from the University of Wisconsin, and a M.S. and Ph.D. in analytical chemistry from Rutgers University.