Valeant Changes Strategy, Overhauls Board

The transcript discusses a major shake-up in a company, focusing on changes in board members and strategy as outlined in a new 10K report. The company plans to overhaul its board, with new members taking a more active role in management oversight. The discussion highlights the influence of investors like Bill Ackman and the decision not to split CEO and chairman roles. The company faces operational challenges and is trying to retain employees amid significant strategy shifts. The board's increased involvement reflects dissatisfaction with past governance, as seen in the company's share price drop.

What major changes are being considered by the company according to the new 10K filing?

• Increasing product prices

• Merging with another company

• Reducing pricing and changing distribution

• Expanding into new markets

Who is one of the new influential board members mentioned in the transcript?

• Warren Buffett

• Elon Musk

• Bill Ackman

• Jeff Bezos

What is the company's approach to dealing with its operational challenges?

• Outsourcing operations

• Offering retention bonuses

• Increasing marketing budget

• Hiring more executives

What has been a criticism of the company's operations?

• High operational costs

• Overstaffing in key departments

• Failure to manage public relations

• Excessive lobbying in Washington

What is the company's share price drop from its peak in August?

• 50%

• 60%

• 70%

• 80%