Bausch + Lomb Names Thomas Appio Interim CEO, Signals Guidance Hike
BLCO sits 26% above its 52-week low of $13.765.
Summary
Bausch + Lomb appointed chairman Thomas Appio as interim CEO, effective immediately, while he continues to lead parent Bausch Health. Brent Saunders, CEO since 2023, departs by mutual agreement and will receive a $75.5 million lump-sum severance payment and up to $50,000 in attorney fee reimbursement; all his outstanding equity awards were forfeited. The company also signaled it expects to raise full-year 2026 adjusted EBITDA guidance based on preliminary Q3 results, with details coming on the October 28 earnings call. This follows the board overhaul in August when Bausch Health replaced four directors. The CEO change and guidance hike together mark a significant leadership and outlook shift for the eye-care company.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — Saunders will receive a $75.5 million lump-sum severance payment and up to $50,000 in attorney fee reimbursement; all his outstanding equity awards were forfeited.
At the time of this announcement, BLCO was trading at $17.30 on NYSE in the Life Sciences sector, with a market capitalization of approximately $6.2B. The 52-week trading range was $13.77 to $18.92. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Seeking Alpha.