The embattled drugmaker Valeant Pharmaceuticals is hiring a new chief financial officer from an animal-health company.
Paul Herendeen, who on Friday resigned as CFO of Zoetis, will take over the role immediately.
"[Herendeen's] prior experience as a public company CFO, strong operational focus, and disciplined approach to financial management make him the ideal choice to lead our finance function as we execute on our plans to stabilize and transform the company," Valeant CEO Joseph Papa said in a statement.
Herendeen will replace Robert Rosiello, who took over that role from Howard Schiller in July of last year. Rosiello will stay at the company as executive vice president of corporate development and strategy.
Valeant hired a new general counsel and made changes to its executive committee earlier this month.
The global investment management firm T. Rowe Price last week filed a lawsuit against Valeant, alleging that its practices surrounding the mail-order pharmacy Philidor were fraudulent.
Valeant is also under criminal investigation in connection with its relationship with Philidor.
Bill Ackman, who is an activist investor in Valeant, also invested in Zoetis in 2014.
The Wall Street Journal's Vipal Monga first reports reported Herendeen's hire.
