Bausch & Lomb Corp Appoints Four Directors, Provides June Quarter Update

What Happened

• Bausch + Lomb Corporation announced four new directors—Thomas J. Appio, Robert Chersi, Laurence Paul, M.D., and Barbara Trebbi—were appointed to the Board effective August 5, 2026, replacing Steven H. Collis, Karen L. Ling, Thomas W. Ross, Sr. and Andrew C. von Eschenbach, M.D., who resigned effective that date.
• The appointments were made at the request of the company’s controlling shareholder, Bausch Health Companies Inc. (BHC); Thomas Appio is BHC’s CEO. Mr. Chersi, Dr. Paul and Ms. Trebbi were deemed independent under NYSE/Toronto listing rules and Canadian securities laws.
• In connection with the resignations, the Company agreed to pay the departing directors prorated cash compensation and fully accelerate vesting of their outstanding and unvested restricted stock units from the 2026 grant. The Company also entered into a one-year consulting agreement with former director Thomas W. Ross, Sr., under which Mr. Ross will be paid $400,000 total (four quarterly payments of $100,000).
• The company issued a press release (attached as Exhibit 99.1) providing an update to the Board and certain financial information for the quarter ended June 30, 2026.

Key Details

• Board changes effective: August 5, 2026.
• New directors: Thomas J. Appio; Robert Chersi; Laurence Paul, M.D.; Barbara Trebbi.
• Departing directors: Steven H. Collis; Karen L. Ling; Thomas W. Ross, Sr.; Andrew C. von Eschenbach, M.D.
• Consulting deal with Mr. Ross: $400,000 total, payable $100,000 quarterly for up to one year; terminable on 30 days’ notice or immediately for cause.
• Departing directors received prorated cash and full acceleration of outstanding 2026 restricted stock units.

Why It Matters

• Governance and control: A bloc change on the Board requested by the controlling shareholder (BHC) is a material governance event—investors should note the potential for shifts in board oversight or strategic direction tied to the controlling shareholder’s interests.
• Financial/compensation items: The accelerated vesting of RSUs and the $400k consulting fee are near-term charges to the company’s compensation/operating expenses; the filing flags these one-time items but does not quantify their total accounting impact here.
• Next steps for investors: Review the attached press release for the company’s June 30, 2026 quarter financial information and watch for the company’s Form 10-Q for the quarter ending September 30, 2026 for full financial disclosure and the filed consulting agreement.