Valeo Pharma announces new chief financial officer along with $2 million in cost reductions

Valeo Pharma CEO Steve Saviuk joined Steve Darling from Proactive to share details about recent executive changes within the company.

Saviuk announced the appointment of Pascal Tougas as the new chief financial officer, succeeding Luc Mainville.

Tougas is recognized as a well-experienced senior executive in the pharmaceutical industry, with a robust financial background. His previous tenure at Sanofi Canada for 11 years saw him in various key roles, including Country Head, Trade and Revenue Management, interim Chief Financial Officer Canada, and Director Controlling and Operations Canada, among others.

Pascal is also well-qualified academically, holding a bachelor's degree in business administration from HEC Montreal along with a CPA designation.

Additionally, Saviuk informed Proactive about Valeo Pharma’s strategic efforts aimed at reducing operational costs as the company advances towards profitability. One significant move in this direction is the realignment of the company’s organizational structure. This realignment is expected to yield cost savings while enhancing the efficiency and timeliness of decision-making within the company. These changes are projected to save the company over $2 million.

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