Pearson to step down as Valeant CEO

Valeant Pharmaceuticals International Inc. (TSX:VRX; NYSE:VRX) said CEO Michael Pearson will step down when a successor is named. Pearson took a medical leave of absence from late December until late February.

Valeant also said Pershing Square Capital Management CEO William Ackman will join its board. The firm has a 9% stake in Valeant. Pershing Square's Stephen Fraidin already has a board seat. ...