Bausch + Lomb CEO Leaving 10 Weeks Following IPO, Month After Icahn Gains Two Board Seats
Joseph Papa steps down as chair and will remain at helm and on board until successor appointed. Guggenheim analysts reported representatives on B+L board for activist investor Carl Icahn appointed a month ago likely led to Papa’s exit.
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Bausch Health CEO Joseph Papa will move over to head separate Bausch + Lomb pure-play eye health business and is preparing a team for either a spin-off or initial public offering of the unit in the third quarter, the executive said during a first quarter earning call 4 May. Papa said a sale of the division, which includes consumer health eye drops and dietary supplements, is also possible.