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Documents Open Curtain on Boardroom Drama at Valeant

By Tony Seruga

It’s rare to get a peek behind the corporate curtain and to catch a glimpse of the real-time deterioration of the relationship between an activist investor and the chief executive he had long supported.

But thanks to a recently released report by the Senate Special Committee on Aging, we have been offered a front-row seat to witness how the billionaire hedge fund manager William A. Ackman turned on J. Michael Pearson, the chief executive of Valeant Pharmaceuticals International, and replaced him with Joseph Papa in hopes that Valeant’s miserable fortunes could be turned around. It’s like watching a car crash…

Documents Open Curtain on Boardroom Drama at Valeant

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