Bausch + Lomb Adds Four Board Directors at Parent Bausch Health's Request

Dow Jones
Aug 06
 
 

Bausch + Lomb has added four new directors at the request of Bausch Health, including its parent's chief executive.

The Canadian eye-health company appointed to its board Bausch Health CEO Thomas Appio. He joins alongside Robert Chersi, founder of Chersi Services, Laurence Paul, who among other things is co-founder and managing principal of Laurel Crown Partners and minority owner of the Pittsburgh Steelers, and Barbara Trebbi, the president and co-CEO of Landry Trebbi Investment and president of BXT Corp.

The appointments were called for by Bausch Health, which has held a majority ownership position in Bausch + Lomb since its initial public offering in 2022 and currently sits on a 87% stake.

The new directors replace Steven Collis, Karen Ling, Thomas Ross and Andrew von Eschenbach, each of whom resigned to facilitate the new appointments. Bausch + Lomb said none of the resignations were the result of any disagreement with the company.

Bausch + Lomb recorded second-quarter revenue of $1.39 billion, an increase of 9% compared with last year. It reported growth across business segments, including double-digit revenue growth in surgical and pharmaceuticals.

The Vaughan, Ontario, affirmed a recently raised target for full-year revenue of between $5.44 billion and $5.54 billion.

 
 

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