Valeant Pharmaceuticals International, an Aliso Viejo drug maker, said Wednesday that Bary Bailey, its chief financial officer, resigned.
Bailey, a former official at PacifiCare Health Systems Inc., joined Valeant in 2002 after a shareholder revolt that led to the removal of its previous management team.
In a statement, Chief Executive Timothy Tyson praised Bailey:
“He has guided us through some very complex financial issues and we will all miss his leadership and counsel,” Tyson said.
Peter Blott, Valeant’s group financial controller, is Bailey’s replacement. Blott’s been with Valeant since 2003; he previously held jobs with Otsuka Pharmaceuticals Europe Ltd., as well as GlaxoSmithKline PLC.
Valeant said Bailey would stay with the company through May 31 to assist with the transition to a new chief financial officer.
