Bausch + Lomb Corp. (NYSE:BLCO) stock fell nearly 10% on Monday after the eye care company announced an unexpected leadership change, even as it signaled stronger full-year earnings.
The company and its parent, Bausch Health Companies Inc. (NYSE:BHC), announced Monday that Thomas J. Appio has been appointed interim CEO of Bausch + Lomb, effective immediately.
Appio replaces Brent Saunders, who has led Bausch + Lomb since 2023. Saunders and the company’s board mutually agreed on his departure.
Bausch + Lomb Names Interim CEO
Appio will continue serving as CEO of Bausch Health while taking charge of Bausch + Lomb.
He became chairman of Bausch + Lomb’s board in August 2026 and has led Bausch Health since 2022.
Appio brings extensive experience in the eye care business. He joined Bausch + Lomb in 2010 as managing director for China and became president of its international operations in 2016.
Under his leadership, Bausch Health’s operations, excluding Bausch + Lomb, have recorded 13 consecutive quarters of year-over-year growth in revenue and adjusted EBITDA.
The board said Appio’s industry knowledge and global leadership experience would help sustain the company’s growth.
Meanwhile, Saunders said Bausch + Lomb had strengthened its strategy, expanded its product pipeline and improved its competitive position during his tenure.
Companies Signal Stronger 2026 Earnings
Despite the leadership shake-up, Bausch + Lomb and Bausch Health expect to raise their full-year 2026 adjusted EBITDA guidance, excluding acquired in-process research and development expenses.
The anticipated increase follows strong preliminary third-quarter performance and expectations for continued improvement through the rest of 2026.
However, neither company disclosed revised earnings forecasts.
Both companies plan to provide additional details when they release third-quarter financial results on Oct. 28.
The preliminary outlook remains subject to final accounting adjustments and financial reviews.
Bausch + Lomb develops contact lenses, prescription eye care products and surgical devices. Bausch Health operates a broader pharmaceutical business, including gastroenterology, dermatology and neuroscience treatments.
Price Action: Bausch Health Companies shares were down 2.15% at $5.91 and Bausch & Lomb shares were down 9.88% at $15.59 at the time of publication on Monday, according to Benzinga Pro data.
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