Aug 18 Botox-maker Allergan Inc, which
is trying to fight off a hostile takeover bid from Valeant
Pharmaceuticals Inc , said its chief financial
officer, Jeff Edwards, was stepping down for family reasons and
would be replaced immediately by 30-year company veteran Jim
Allergan on Monday said Edwards, who has been CFO for nine
of his 21 years with the company, had informed it in February of
his interest in giving up his post later in 2014 in order to
commit more time to his family. He will remain with Allergan in
a nonexecutive capacity, as Hindman transitions into the job.
Since 2002, Hindman has served as senior vice president of
Treasury, Risk and Investor Relations, after serving as
controller and in other financial roles with the Irvine,
Chief Executive Officer David Pyott said in a news release
that Hindman had played an especially important leadership role
in recent months. But Pyott did not mention Valeant, which on
April 22 teamed up with billionaire investor William Ackman to
make an unsolicited $47 billion bid for Allergan.
After twice boosting their bid, and adjusting for the
declining value in recent months of Valeant shares, the bid is
now valued at $48 billion.
(Reporting by Ransdell Pierson in New York; editing by Matthew