Valeant CEO Mike Pearson Will Step Down

The transcript discusses Valiant Pharmaceuticals' decision to replace CEO Mike Pearson and appoint Zachman to the board. It highlights issues during an earnings call, including communication problems and financial misstatements. The company faces internal control weaknesses and board dynamics challenges, with Howard Schiller refusing to step down. The impact on stock prices and future prospects, including potential divestitures, are also covered.

What significant change is Valiant Pharmaceuticals planning regarding its CEO?

What were the reasons behind the board's decision to replace Mike Pearson?

What issues were raised during the earnings call mentioned in the text?

What challenges does Valiant face in terms of its management and communication?

How did the misstatements in financial reporting affect Valiant's revenue and EPS?

What implications does the SEC investigation have for Valiant Pharmaceuticals?

What was the reaction of analysts to the news about Mike Pearson's return?