Valeant, the acquisitive pharmaceutical company under scrutiny over its accounting practices, has replaced its general counsel and announced the exit of the company's PR and IR chief.
Laurie Little, senior VP of investor relations for Valeant who manages global communications for the Quebec-based company, is stepping down after nine years.
Valeant has brought on investment manager Scott Hirsch as senior VP of business straegy and communications. "His insights into the sector and knowledge of Valeant's businesses will be invaluable as we take further action to stabilize and transform the company," said CEO Joseph Papa.
Also today the company said it tapped Novartis' Christina Ackermann as executive VP and general counsel. She was recently senior VP and general counsel for Novartis' Alcon unit.
General counsel Robert Chai-Onn is out after a transition.
Valeant in December added Washington-based Vianovo to its PR defense, on top of Sard Verbinnen & Co., as its business strategy and accounting were criticized by activist Bill Ackman -- who said PR was a major problem of the company -- and the company was drawn into a larger debate over high drug prices.
Senior-most communications executives in the Fortune 500 earned between $50,000 and $100,000 more this year than they did two years ago, according to a recent survey of chief communications officers.
The pressure is on PR pros to make sure corporate messaging remains clear and cohesive. Business jargon is an obstacle to achieving this goal.
In today's volatile world of constant disruption, the ability to offer reliability and dependability is more valuable than ever.
