Bausch & Lomb names former top S-P execs to its team

Leading USA-based eye health company Bausch & Lomb, whose core businesses includes contact lenses and lens care products, ophthalmic devices and instruments, and ophthalmic pharmaceuticals, has named Fred Hassan as chairman of the board of directors and Brent Saunders as chief executive and appointed him to the board, effective immediately.

Current chairman and CEO Gerald Ostrov is retiring, and will serve as a consultant to the new leaders.

Mr Hassan is one of the leading figures in global health care. He served most recently as chairman and CEO of Schering-Plough until its merger with Merck & Co. in November 2009. He led a six-year transformation of S-P from a company under severe stress into one of the highest performing companies in the research-based global pharmaceutical industry, with a rich late-stage pipeline. Previously Mr Hassan was chairman and CEO of Pharmacia, where he also executed a historic turnaround. He has also served as a senior advisor to Warburg Pincus, the private equity investing group, that the majority owner of Bausch & Lomb.