---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-181736"
form_type: "8-K"
ticker: "BHC"
cik: "0000885590"
company_name: "Bausch Health Companies Inc."
filed_at: "2025-08-15T23:59:59+00:00"
generated_at: "2026-05-17T12:41:17.698824+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Bausch Health directors Icahn and Miller resign after Icahn Group stake falls; Paulson increases holding to 19.13%

## Summary
- Brett M. Icahn and Steven D. Miller resigned from the board effective August 14, 2025, upon termination of the Director Appointment and Nomination Agreement.
- The agreement terminated because the Icahn Group's net long position in BHC shares fell below the required threshold.
- Paulson Capital Inc. and affiliates acquired the Icahn Group's 34,721,118 common shares, increasing its beneficial ownership to 19.13% of outstanding shares.
- John A. Paulson, Board Chairperson, expressed confidence in Bausch Health's value and business prospects.
- Resignations were not due to any disagreement with the company.

## SEC filing metadata
- accession: 0001193125-25-181736
- form_type: 8-K
- ticker: BHC
- cik: 0000885590
- company_name: Bausch Health Companies Inc.
- filed_at: 2025-08-15T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/885590/000119312525181736/0001193125-25-181736-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/885590/000119312525181736/d858618d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-181736
- JSON: https://secwatch.observer/filing/0001193125-25-181736.json
- Plain text: https://secwatch.observer/filing/0001193125-25-181736.txt

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