Bausch + Lomb appoints Brent Saunders as CEO and Chair, effective March 6, 2023

Bausch & Lomb Corp

Brent Saunders appointed CEO and Chair, effective March 6, 2023; Joseph Papa steps down.
Saunders previously served as CEO of Bausch + Lomb from 2010-2013; over 25 years healthcare leadership.
Employment agreement: $1.6M base salary, $6.5M cash sign-on bonus, equity grants of 750k PSUs, 1.32M options, 375k RSUs.
Saunders will join Feb 16 in advisory capacity; Thomas Ross becomes Lead Independent Director.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Brent Saunders

Chief Executive Officer and Chair

BLCO · Bausch & Lomb Corp

Effective: 2023-03-06
Filed: February 15, 2023, 6:59 PM ET

On February 15, 2023, Bausch + Lomb Corporation (the “Company”) announced the appointment of Brent Saunders as Chief Executive Officer of the Company, effective March 6, 2023 (the “Transition Date”).

Departed

Joseph C. Papa

Chief Executive Officer

BLCO · Bausch & Lomb Corp

Effective: 2023-03-06
Successor: Brent Saunders
Filed: February 15, 2023, 6:59 PM ET

Joseph C. Papa will step down from his roles as Chief Executive Officer and member of the board of directors of the Company (the “Board”).

Role change

Thomas W. Ross, Sr.

Lead Independent Director

BLCO · Bausch & Lomb Corp

Effective: 2023-03-06
Filed: February 15, 2023, 6:59 PM ET

Effective upon Mr. Saunders’ appointment as Chair of the Board on the Transition Date, Thomas W. Ross, Sr. will become the Lead Independent Director of the Board.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Brent Saunders was appointed as Chief Executive Officer and Chair at Bausch & Lomb Corp.

Action: appointed
Role: Chief Executive Officer and Chair

Exact text from the filing

On February 15, 2023, Bausch + Lomb Corporation (the “Company”) announced the appointment of Brent Saunders as Chief Executive Officer of the Company, effective March 6, 2023 (the “Transition Date”).

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: stepped down
Role: Chief Executive Officer

Exact text from the filing

Joseph C. Papa will step down from his roles as Chief Executive Officer and member of the board of directors of the Company (the “Board”).

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Thomas W. Ross, Sr. changed role as Lead Independent Director at Bausch & Lomb Corp.

Action: become the Lead Independent Director
Role: Lead Independent Director

Exact text from the filing

Effective upon Mr. Saunders’ appointment as Chair of the Board on the Transition Date, Thomas W. Ross, Sr. will become the Lead Independent Director of the Board.

View on SEC.gov

Bausch & Lomb Corp filing history →

Source: SEC EDGAR

accession 0001193125-23-039729

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