Bausch + Lomb begins CEO search; Papa steps down as chair, reaffirms FY2022 guidance

Bausch & Lomb Corp

Joseph Papa steps down as Board chair; Thomas W. Ross Sr. appointed chair. Papa remains CEO until successor found.
Separation agreement provides Papa with 2x base salary + target bonus lump sum, health benefits, and prorated equity vesting.
Board reconstitutes committees: Sarah Kavanagh chairs Audit, Richard De Schutter chairs Talent/Comp, Ross chairs Nominating/Governance.
Company reaffirms full-year 2022 guidance (announced June 8, 2022) and spinoff from Bausch Health expected in 2023.

item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Thomas W. Ross, Sr.

Chairperson of the Board

BLCO · Bausch & Lomb Corp

Effective: 2022-07-20
Filed: July 20, 2022, 7:59 PM ET

Chairperson: Thomas W. Ross, Sr.

Departed

Joseph C. Papa

Chief Executive Officer

BLCO · Bausch & Lomb Corp

Filed: July 20, 2022, 7:59 PM ET

Joseph C. Papa will continue serving as Chief Executive Officer until his successor is appointed

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Thomas W. Ross, Sr. was appointed as Chairperson of the Board at Bausch & Lomb Corp.

Action: appointed
Role: Chairperson of the Board

Exact text from the filing

Chairperson: Thomas W. Ross, Sr.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Joseph C. Papa departed as Chief Executive Officer at Bausch & Lomb Corp.

Action: will step down
Role: Chief Executive Officer

Exact text from the filing

Joseph C. Papa will continue serving as Chief Executive Officer until his successor is appointed

View on SEC.gov

Bausch & Lomb Corp filing history →

Source: SEC EDGAR

accession 0001193125-22-197382

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