Bausch + Lomb CEO Brent Saunders to leave; Appio takes interim role

what happened

Bausch + Lomb said Brent Saunders will leave as chief executive after reaching a mutual accord with the board. Chairman Thomas Appio assumed the position on an interim basis immediately. Reuters reported that the company gave no explanation for the departure and had not replied to the news agency’s request for comment.

Saunders has run Bausch + Lomb since 2023 and previously held the position from 2010 to 2013. Before that, he led Allergan until AbbVie bought the company for $63 billion in 2020. Appio has been Bausch Health’s CEO since 2022 and earlier managed Bausch + Lomb’s international operations.

Citi analysts described the timing as “seems sudden,” while saying Appio’s extensive background at Bausch + Lomb makes him well placed to manage the transition. Evercore ISI analysts said investors would assess whether the leadership change alters Bausch Health’s eventual plans for its controlling interest in Bausch + Lomb. The US-listed shares dropped more than 5% in early trading.

Using preliminary third-quarter figures, Bausch + Lomb and Bausch Health expect to lift their 2026 adjusted EBITDA outlooks, excluding costs tied to acquired research and development. Revised guidance is due with the companies’ third-quarter reports on October 28. Bausch + Lomb currently sees full-year 2026 adjusted EBITDA at $1.025 billion to $1.075 billion. Bausch Health separately listed Bausch + Lomb in 2022 while keeping control, and a possible divestment process concluded without a transaction in 2025.

why it matters

The leadership change triggered an immediate share-price reaction, while the prospective EBITDA guidance increase provides an offsetting operational focus. Investors are also monitoring the implications for Bausch Health’s controlling stake in Bausch + Lomb.

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