Valeant picks new CFO amid ongoing shake-up

Valeant Pharmaceuticals International chose Paul Herendeen, a former executive at Warner Chilcott and veterinary drugmaker Zoetis, as its chief financial officer in an ongoing leadership shake-up sparked by an accounting scandal.

Herendeen spent 16 years as finance chief of drugmaker Warner Chilcott and health care company MedPointe before joining Zoetis in September 2014, according to a statement. His appointment at Valeant is effective immediately.

The drugmaker, which has about $31 billion in debt, is making key executive changes while attempting to recover from accounting and business-practices problems, and restore investors’ confidence.