Bausch + Lomb CEO Joseph Papa to remain until March–June 2023; severance amended

Bausch & Lomb Corp

CEO Joseph C. Papa to serve through at least March 4, 2023, and no later than June 30, 2023, under amended separation agreement.
Board continues search for a new CEO; Papa’s departure date tied to successor appointment or Board discretion.
Papa receives $1.2M prorated target bonus (50% of target) on termination, replacing performance-based bonus.
Accelerated vesting of 315,592 RSUs (shares remain restricted until distribution, change of control, or 2-year anniversary) and 1,248,496 stock options.

item 5.02 item 7.01 item 9.01

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Departed

Joseph C. Papa

Chief Executive Officer

BLCO · Bausch & Lomb Corp

Filed: December 22, 2022, 6:59 PM ET

Mr. Papa agreed to continue serving as Chief Executive Officer until at least March 4, 2023

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

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

Action: agreed to continue serving
Role: Chief Executive Officer

Exact text from the filing

Mr. Papa agreed to continue serving as Chief Executive Officer until at least March 4, 2023

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Bausch & Lomb Corp filing history →

Source: SEC EDGAR

accession 0001860742-22-000030

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