Updated version 1 - Bausch + Lomb CEO Saunders resigns, Chairman Appio appointed as interim CEO

Analyst comments added in point 6

Reuters, October 12 - Bausch + Lomb (BLCO.TO) said on Monday that, following mutual agreement with the board, Chief Executive Officer Brent Saunders will be stepping down. The chairman of the eye care company, Thomas Appio, will immediately take over the role as interim CEO.

Bausch + Lomb’s US-listed stock fell more than 5% in early trading.

Details are as follows:

• Bausch + Lomb did not disclose the reason for Saunders’ departure.

• The company did not immediately respond to Reuters’ request for comment on the matter.

• Saunders has led Bausch + Lomb since 2023, previously holding positions at the company from 2010 to 2013. Before that, he headed Allergan, until the company was acquired by AbbVie (ABBV.N) in 2020 for $63 billion.

• Appio has served as CEO of Bausch Health since 2022, having previously been responsible for Bausch + Lomb’s international business.

• Citi analysts said the timing of Saunders’ departure “seems somewhat sudden,” but Appio’s extensive experience at Bausch + Lomb makes him well qualified to lead the company through the transition period.

• Evercore ISI analysts noted that investors will closely watch whether this leadership change affects Bausch Health’s eventual plans concerning its controlling stake in Bausch + Lomb.

• Based on preliminary third-quarter results, Bausch + Lomb and Bausch Health expect to raise their forecasts for adjusted EBITDA in 2026 (excluding acquisition-related R&D expenses).

• The two companies will announce the updated forecasts alongside third-quarter financial results on October 28.

• Bausch + Lomb currently forecasts full-year adjusted EBITDA between $1.025 billion and $1.075 billion.

• Bausch Health listed Bausch + Lomb separately in 2022, but retained control. In 2025, a potential sale process ultimately failed to reach a deal.

(To assist non-English native speakers, Reuters has automatically translated its report into several other languages. Because automated translations may contain errors or fail to capture the required context, Reuters does not guarantee the accuracy of automated translation texts and provides them solely for the convenience of readers. Reuters accepts no responsibility for any damage or loss caused by the use of automated translation services.)