---
schema_version: "secwatch.filing_event.v1"
accession: "0000950103-22-013065"
form_type: "8-K"
ticker: "BLCO"
cik: "0001860742"
company_name: "Bausch & Lomb Corp"
filed_at: "2022-07-27T23:59:59+00:00"
generated_at: "2026-06-24T08:20:03.053984+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "medium"
source: SEC EDGAR
---

# Bausch + Lomb CEO Joseph C. Papa departing; retention program approved for other NEOs

## Summary
- CEO Joseph C. Papa to leave; successor search ongoing.
- Talent committee approved enhanced severance for other NEOs (2x salary + target bonus) for qualifying termination within one year after successor appointed.
- Founder Awards granted in May 2022 get pro-rata vesting but shares/options remain restricted until spin-off, change of control, strategy change, or 2-year anniversary.
- Each eligible NEO granted 35,000 RSUs under retention program, vesting 1/3 per year over 3 years.
- Retention program aims to stabilize leadership during CEO transition.

## SEC filing metadata
- accession: 0000950103-22-013065
- form_type: 8-K
- ticker: BLCO
- cik: 0001860742
- company_name: Bausch & Lomb Corp
- filed_at: 2022-07-27T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: medium
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1860742/000095010322013065/0000950103-22-013065-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1860742/000095010322013065/dp177761_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950103-22-013065
- JSON: https://secwatch.observer/filing/0000950103-22-013065.json
- Plain text: https://secwatch.observer/filing/0000950103-22-013065.txt

## Key facts
- Executive change
  Joseph C. Papa departed as Chief Executive Officer at Bausch & Lomb Corp.
  - Action: departing
  - Role: Chief Executive Officer
  source text: the recently announced upcoming departure of our current Chief Executive Officer (Joseph C. Papa)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1860742/000095010322013065/0000950103-22-013065-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.