Valeant PharmaceuticalsInternational Inc. may replace as many as five of its directors assoon as Friday, according to a person familiar with the matter, asthe company overhauls its strategy and governance and plans for thearrival of its new chief executive officer.
From the 14-person board, Chairman Robert Ingram, AuditCommittee Chairwoman Norma Ann Provencio, Theo Melas-Kyraizi,Ronald Farmer and Mason Morfit may all be replaced, said theperson, who asked not to be identified because the matter wasprivate.
Morfit is president of ValueAct Capital Management LLC, one ofValeant’s biggest holders.
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