Valeant Pharmaceuticals International Inc. said Wednesday its board has appointed Thomas Ross as lead independent director. Ross has been a board member since March 8, sits on the company's nominating and corporate governance committee and is chairman of its conduct and compliance committee. Three new independent directors were voted to Valeant's board at its annual shareholder meeting on Tuesday. Dr. Argeris N. Karabelas, Russel C. Robertson and Dr. Amy B. Wechsler will join the eight directors who were re-elected. Valeant shares have fallen 76% in the year so far, after a scandal surrounding the company's drug pricing policies and accounting practices.
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