Ackman Says That Valeant May Identify New CEO Within Weeks
- Board has `handful' of candidates in mind, investor says
- Valeant shares gain as much as 21% in Wednesday trading
Bill Ackman.
Photographer: Chris Ratcliffe/BloombergValeant Pharmaceuticals International Inc.’s search for a new chief executive officer could be done sooner rather than later, said board member and billionaire investor Bill Ackman, whose Pershing Square Capital Management LP is one of the drugmaker’s biggest holders.
“We’re cautiously optimistic it’s a matter of weeks and not months in terms of identifying new management for the company,” Ackman said on a Pershing Square investor conference call Wednesday. “There is not a list for 100 candidates for the job, there’s probably a handful of top candidates. Because of all the M& activity in pharma, there are lots of candidates who are available and there are also people in other businesses that find this opportunity extremely attractive.”