Bill Ackman Takes Bigger Role at Valeant

Bill Ackman, previously a passive investor, is now on the board and addressing employees about company changes, including no major layoffs and finding a new CEO. The company plans to sell non-core assets and consider an IPO for Bausch and Lomb to reduce its $31 billion debt. Howard Schiller, a board member, faces accusations of impropriety and is resisting calls to resign, complicating board dynamics.

What role did Bill Ackman take on after the recent announcement?

• He joined the board and conducted a town hall meeting.

• He announced major layoffs.

• He decided to sell his shares.

• He became the CEO of the company.

What is the company's strategy to manage its $31 billion debt?

• Increasing product prices.

• Issuing new bonds.

• Selling a major profitable division.

• Considering an IPO of Bausch and Lomb.

What is the company's plan regarding Bausch and Lomb?

• Sell the entire business.

• Maintain a majority stake and sell a portion of shares.

• Close down the business.

• Merge it with another company.

Why is it difficult to remove Howard Schiller from the board?

• He has the support of all employees.

• He owns the majority of the company's shares.

• He is considered a qualified board member.

• He has a strong legal team.

What financial incentive does Howard Schiller have to remain on the board?

• A large salary increase.

• A new executive position.

• Stock options.

• A $26 million bonus.