Oct 12 (Reuters) – Bausch + Lomb said on Monday that CEO Brent Saunders will depart the company after a mutual agreement with the board, and the eye-care company’s Chairman Thomas Appio will take on the role on an interim basis effective immediately.
Here are more details:
• Bausch + Lomb did not disclose a reason for Saunders’ departure, and the company did not immediately respond to a Reuters request for comment on it.
• Saunders had led Bausch + Lomb since 2023, and had an earlier stint at the company from 2010 to 2013. He previously led Allergan until its $63 billion sale to AbbVie in 2020.
• Appio, who has been Bausch Health’s CEO since 2022, previously headed Bausch + Lomb’s international business.
• Citi said the timing of Saunders’ departure “seems sudden” but Appio’s long experience at Bausch + Lomb positions him well to lead the company during the transition.
• Bausch + Lomb and Bausch Health expect to raise their 2026 forecasts for adjusted EBITDA, excluding acquired research and development costs, based on preliminary third-quarter results.
• Both companies will provide updated forecasts with their third-quarter results on October 28.
• Contact lens maker Bausch + Lomb’s current full-year adjusted EBITDA forecast is between $1.025 billion and $1.075 billion.
• Bausch Health listed Bausch + Lomb separately in 2022 but retained control. A potential sale process ended without a deal in 2025.
(Reporting by Kunal Das in Bengaluru; Editing by Leroy Leo)
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