Bausch + Lomb Shares Fall Nearly 10% After Interim CEO Appointment
Bausch + Lomb appointed Thomas J. Appio interim CEO, effective immediately, replacing Brent Saunders, as the shares fell nearly 10% Monday. The company and parent Bausch Health said they expect to raise full-year 2026 adjusted EBITDA guidance, but did not disclose revised forecasts.
Bausch + Lomb Corp. (NYSE: BLCO) shares dropped nearly 10% on Monday after the eye care company disclosed an unexpected leadership change, alongside a stronger full-year earnings outlook. Bausch + Lomb and parent Bausch Health Companies Inc. (NYSE: BHC) said Thomas J.
Appio was appointed interim CEO of Bausch + Lomb, effective immediately. Appio replaces Brent Saunders, who had led Bausch + Lomb since 2023. Saunders and the board mutually agreed that he would leave. Appio will retain his role 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 joined Bausch + Lomb in 2010 as managing director for China and became president of its international operations in 2016. Bausch Health's operations excluding Bausch + Lomb have posted 13 consecutive quarters of year-over-year growth in revenue and adjusted EBITDA under his leadership. The board cited his industry knowledge and global leadership experience as assets in sustaining the company's growth.
Saunders said Bausch + Lomb had strengthened its strategy, expanded its product pipeline and improved its competitive position during his tenure. Despite the leadership change, Bausch + Lomb and Bausch Health expect to raise their full-year 2026 adjusted EBITDA guidance, excluding acquired in-process research and development expenses. The expected increase follows strong preliminary third-quarter performance and an outlook for continued improvement through the rest of 2026. Neither company provided updated earnings forecasts.
Both companies plan to share further details when they report 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 has a broader pharmaceutical business that includes treatments in gastroenterology, dermatology and neuroscience. 59. Related coverage: The Brent-WTI price gap reaches $13.