Bausch + Lomb CEO Brent Saunders to depart with $75.5 million payout
Thomas J. Appio, chairman of the board and CEO of controlling shareholder Bausch Health Companies, becomes interim CEO while keeping his post at Bausch Health
Published
Bausch + Lomb said Brent Saunders will leave as chief executive and step down from the board effective October 12, 2026. The company said the departure does not stem from any dispute or disagreement.
Thomas J. Appio, who chairs Bausch + Lomb's board and serves as CEO of controlling shareholder Bausch Health Companies, becomes interim CEO on the same date. He will continue running Bausch Health at the same time.
Saunders will receive a lump-sum cash payment of $75.5 million under a separation agreement. Bausch + Lomb separately said it expects to raise its full-year 2026 adjusted EBITDA guidance, excluding acquired IPR&D, based on preliminary third-quarter results, with more detail to come when it reports earnings on October 28.
Putting Bausch Health's own chief executive in charge of Bausch + Lomb on an interim basis deepens the overlap between the two companies rather than creating distance between them, a question that will outlast Saunders' exit. The size of the severance payment is large for a departure the company describes as amicable, and that gap invites scrutiny of how the exit was negotiated and timed. The early signal on stronger EBITDA, landing alongside the leadership change, points to an operating business running ahead of plan, something investors will weigh further once full third-quarter numbers arrive on October 28. Saunders is not due to leave for eleven months, giving the board time to search for a permanent successor, though none has been named.