Bellicum, the Valeant pharmaceutical company, has fired CEO Robert B. Bellicum for the second time in three months, the company announced Wednesday.
Bellic’s board said in a statement that it approved his return to management effective Thursday, a decision that has been met with widespread criticism.
Bellis announcement comes days after Valeant announced it was withdrawing from the U.S. market and would focus its focus on the U.-Korea market.
Valeant was also cutting its dividend by $1.10 per share, or 6.9%, in early December.
The company said it was announcing Bellicum’s resignation on Thursday to “ensure the long-term health of our company.”
Bellic had been CEO of the pharmaceutical company since 2013.
He has been the target of criticism and criticism for the company’s financial woes, including the Valeants bankruptcy.
Belli was appointed by Valeant in 2014 and was instrumental in making the company profitable, including a successful acquisition of EpiPen in December.
He left in January 2016 to take over a reinsurance company.
Bellac’s resignation comes as Valeant is trying to address its financial woes amid the financial crisis.
Earlier this month, Valeant disclosed it was planning to lay off a third of its staff, which could result in the loss of more than 300 jobs.