Bausch & Lomb Corp: CEO departs; interim CEO appointed

What happened

• The filing says that on Oct 12, 2026 Bausch + Lomb Corporation announced that Brent Saunders, chief executive officer and a member of the board, and the board mutually agreed that Mr. Saunders will depart the company, effective Oct 12, 2026 (the "Separation Date"), and that he will cease serving on the board as of the Separation Date.
• The filing says that Thomas J. Appio, currently chairman of the board, was appointed to serve as interim chief executive officer, effective Oct 12, 2026. The filing says Mr. Appio also serves as chief executive officer of Bausch Health Companies Inc., the company’s controlling shareholder.

Key details

• The filing says the company and Mr. Saunders entered into a separation agreement dated Oct 11, 2026 under which Mr. Saunders will receive a lump-sum cash payment of $75,500,000 and reimbursement of attorneys’ fees up to $50,000, subject to his executing and not revoking a waiver and general release of claims.
• The filing says Mr. Saunders will be eligible for continued participation in the company’s group health plans for two years following the Separation Date in accordance with his employment agreement.
• The filing says all of Mr. Saunders’ outstanding equity and equity-based incentive awards under the company’s 2022 Omnibus Incentive Plan were forfeited and cancelled effective upon entering the separation agreement, and that he will provide transition assistance for 90 days without additional compensation other than reimbursement of reasonable out-of-pocket expenses.
• The filing says the company issued a press release on Oct 12, 2026 disclosing the departure and interim appointment and that the company expects to raise full-year 2026 guidance with respect to adjusted EBITDA excluding Acquired IPR&D (non-GAAP).

Why it may matter

• Item 5.02 was reported and covers departures of directors or certain officers and related terms of any separation agreement. Item 7.01 was reported and covers Regulation FD disclosure, including the company press release and updated guidance comment.
• A filing does not show why the insider traded or why the company acted.