Investing.com - Financial Markets Worldwide
Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Valeant's former CEO may remain as consultant through 2017

Published 2016-05-31, 09:18 a/m
© Reuters. Valeant's former CEO may remain as consultant through 2017
PSON
-
BHC
-

NEW YORK, May 31 (Reuters) - Michael Pearson (LON:PSON), the former
chief executive officer of Valeant Pharmaceuticals (NYSE:VRX) International
VRX.TO , has signed a consulting agreement with the drugmaker
that will run through 2017 and pay him hundreds of thousands of
dollars, according to the separation agreement filed with
regulators.
Pearson, who left Valeant on May 2 after a year in which it
had drawn scrutiny for its sharp drug price increases, financial
relationship with a specialty pharmacy and accounting practices,
can earn $83,333 a month this year as a consultant.
Next year, the company agreed to pay him $15,000 per month
for consulting services, plus expenses. If Valeant severs the
consulting services, Pearson will still receive the payments
that would have been due, the document said.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.