Bausch + Lomb CEO Saunders departs, Chairman Appio named interim chief

By Reuters News

Oct 12 (Reuters) - Bausch + Lomb BLCO.TO 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.

US-listed shares of Bausch + Lomb were down over 5% in early trading.

Here are more details:

  • Bausch + Lomb did not disclose a reason for Saunders' departure.

  • The company did not immediately respond to a Reuters request for comment on it.

  • Saunders had led Bausch + Lomb since 2023, following an earlier stint at the company from 2010 to 2013. He previously led Allergan until its $63 billion sale to AbbVie ABBV.N in 2020.

  • Appio, who has been Bausch Health's CEO since 2022, previously headed Bausch + Lomb's international business.

  • Citi analysts 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.

  • Evercore ISI analysts said investors will be watching whether the leadership change affects what Bausch Health ultimately does with its controlling stake in Bausch + Lomb.

  • 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.

  • 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.

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