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Brent Saunders to return as Bausch + Lomb CEO

Published 02/15/2023, 05:57 AM
Updated 02/15/2023, 11:11 AM
© Reuters. FILE PHOTO: Allergan CEO Brent Saunders gives an interview on the floor of the New York Stock Exchange (NYSE) April 6, 2016. REUTERS/Brendan McDermid/

(Reuters) -Bausch + Lomb Corp on Wednesday named Brent Saunders, the former chief executive officer of Allergan (NYSE:AGN), as its CEO and chairman of board, marking his return to the Canadian eye-care company after nearly a decade.

Saunders will join Bausch + Lomb on Feb. 16 in an advisory capacity to help with the transition, the company said. 

He will take helm on March 6 from Joseph Papa, who last July announced plans to step down as CEO.

The Vaughan, Ontario-based firm said in December that Papa will continue serving as the CEO until at least March 4, 2023.

Bausch + Lomb is in the process of being spun out from Bausch Health Companies, which was formerly known as Valeant Pharmaceuticals (NYSE:BHC).

Saunders has served as the CEO of Botox maker Allergan, until it was acquired by AbbVie Inc (NYSE:ABBV) for $63 billion in 2020, and previously headed Bausch + Lomb until its acquisition by erstwhile Valeant in 2013.

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