Bausch + Lomb has announced that Thomas J. Appio, chairman of the Bausch + Lomb Board of Directors, has been appointed interim chief executive officer of Bausch + Lomb, effective immediately.

Appio is set to continue serving as CEO of Bausch Health while now also taking on leadership of Bausch + Lomb. The move coincides with the departure of Brent Saunders, who has served as Bausch + Lomb CEO since 2023, after he and the Board mutually agreed to part ways.¹

Why Appio?

Appio was named chairman of the Bausch + Lomb Board back in August of this year. The Board says his deep knowledge of the business, global leadership experience and long history with the company positions him to build on its momentum and guide its next phase of growth.¹ Appio is not new to the organization: he joined Bausch + Lomb in 2010 as managing director for China and in 2016 became president of Bausch + Lomb International, holding several leadership posts before the company’s 2022 initial public offering.¹

He’s been leadin Bausch Health as CEO since 2022, during which Bausch Health, excluding Bausch + Lomb, has posted 13 consecutive quarters of year-over-year growth in revenue and adjusted EBITDA.¹

“The opportunity to lead Bausch + Lomb is both a privilege and a responsibility that I embrace with great enthusiasm,” said Thomas J. Appio, interim chief executive officer of Bausch + Lomb and chief executive officer of Bausch Health. “Our company is built on the strength of our people, the quality of our portfolio and a relentless commitment to serving customers and patients around the world. With a strong foundation, we are well positioned to build on our momentum and deliver sustainable growth.”

What did Saunders say about his exit?

In a statement on his departure, Saunders framed his tenure as one of strengthening the company’s strategic footing. “When I returned to Bausch + Lomb, I believed this company had tremendous potential,” said Brent Saunders, former chief executive officer of Bausch + Lomb. “Today, it is stronger, more focused and better positioned for the future, with a clearer strategy, a more robust pipeline and significant opportunities ahead. The progress we’ve made reflects the talent, passion and commitment of colleagues across the organization, and I’m proud of everything we’ve accomplished together.”

Prior to his departure, Saunders discussed his time serving as CEO of the company with Pharmaceutical Executive, "We have a great team and three years later, I have zero regrets. We've had a really good 172 years, but I think our best few years are right in front of us."

How is the business performing?

The leadership change arrives alongside a preliminary upward revision to guidance. Based on preliminary third-quarter results, Bausch + Lomb and Bausch Health currently expect to raise full-year 2026 adjusted EBITDA guidance, excluding acquired in-process research and development costs.¹ Both companies are in a blackout period ahead of third-quarter results, which are scheduled for release on Oct. 28. The companies attribute the anticipated increase to continued strong business performance in the third quarter and expectations of stronger performance through the remainder of the year.¹

The trajectory builds on momentum flagged in the company’s first-quarter 2026 results, when Bausch + Lomb reported total revenue of $1.244 billion, up from $1.137 billion in the first quarter of 2025, an increase of $107 million, or 9%.² Excluding a $42 million favorable foreign exchange impact, revenue grew approximately 6% on a constant currency basis.

Sources

1. Bausch + Lomb and Bausch Health Announce Appointment of Thomas J. Appio as Interim Bausch + Lomb CEO, Expect to Raise Full-Year 2026 Guidance Bausch + Lomb October 12, 2026, https://www.bausch.com/newsroom/news/?id=373
2. Bausch + Lomb Announces First-Quarter 2026 Results, Raises Guidance Based on Strong Performance and Positive Outlook Bausch + Lomb April 26, 2026, https://ir.bausch.com/press-releases/bausch-lomb-announces-first-quarter-2026-results-raises-guidance-based-strong