Bausch + Lomb Announces Board of Directors Update

Bausch + Lomb Corporation has welcomed four new additions to its Board of Directors to replace a quartet of retiring members.

The new appointees are:

• Thomas J. Appio, CEO, Bausch Health
• Robert Chersi, founder of Chersi Services LLC; executive director, and a professor at Pace University’s Center for Governance, Reporting & Regulation; and a seasoned director
• Laurence Paul, M.D., co-founder and managing principal of Laurel Crown Partners LLC; president of The Louis Berkman Company; minority owner of the Pittsburgh Steelers; and a director of Crew Knitwear, Vereco, and Ampco-Pittsburgh Corporation
• Barbara Trebbi, president and co-CEO of Landry Trebbi Investment Corp.; president of BXT Corp.; and director of Acadian Asset Management Inc.

The new directors replace Steven Collis, Karen Ling, Thomas Ross, and Andrew von Eschenbach, M.D., each of whom has tendered their resignation to facilitate the new appointments. The resignations did not result from any disagreement with the company.

“We welcome our new directors and appreciate the service and contributions of those departing the board,” Bausch + Lomb Chairman/CEO Brent Saunders said. “Over the past several years, we’ve been very transparent about our strategy and the work required to build a stronger Bausch + Lomb. We have exceptional talent across the company, momentum throughout our businesses, and the strongest pipeline we’ve had in years.”

Appio was appointed Bausch + Lomb Corporation board chairman in August and Interim CEO in October. He also serves as CEO and a director of Bausch Health Companies Inc. (BHC), the parent of Bausch + Lomb Corporation, a role he has held since May 2022. He previously served as BHC’s president and co-head, Bausch + Lomb/International, and executive vice president, company group chairman, International. Before its acquisition by BHC in 2013, Appio served in several positions with Bausch + Lomb, including as vice president, North Asia/Japan, and as managing director, Greater China and Japan. Before joining Bausch + Lomb, Appio worked for 23 years at Schering-Plough in various leadership and operations roles. He earned a bachelor of science degree in accounting from Arizona State University, W.P. Carey School of Business.

Chersi has served as lead independent director of Acadian Asset Management Inc. since November 2018 and as a member of its Board of Directors since March 2016. He has served in various roles at Pace University since 2013 and currently is executive director of the Center for Global Governance, Reporting and Regulation, and an adjunct professor in the Department of Finance & Economics. He is also the founder of Chersi Services LLC, through which he provides advisory services to financial services industry clients.

Before joining Pace University, Chersi was a member of the executive committee and chief financial officer (CFO) of Financial Services at Fidelity Investments from 2008 to 2012, where he led finance, compliance, risk management, business consulting, and strategic business development functions. Before Fidelity, he spent 20 years with UBS AG in a series of senior leadership positions, including CFO of U.S. Wealth Management and deputy CFO of Global Wealth Management and Business Banking. He also served on the UBS AG Group Managing Board from 2004 to 2008. Chersi began his career with KPMG LLP, where he served as an audit manager in the Financial Services Practice.

Chersi currently serves on the Board of Trustees of Thrivent Funds and has previously served on the boards of E*TRADE Financial Corporation, UBS Bank USA, and various charitable and educational organizations. He earned a B.B.A. in accounting, summa cum laude, from Pace University, and is a certified public accountant.

Dr. Paul is co-founder and managing principal of Laurel Crown Partners, a Pittsburgh-based private equity firm. Since co-founding the firm in 2001, Dr. Paul has led its investment strategy, transaction structuring, and portfolio company governance across various industries, including healthcare, financial services, industrial manufacturing, and specialty chemicals.

In addition to his investment activities, Dr. Paul serves as chairman of the Board of Fellows of Harvard Medical School and as a trustee or director of several healthcare and nonprofit organizations, including Children’s Hospital Los Angeles and UPMC Children’s Hospital of Pittsburgh. He also serves on the Board of Trustees of the Pro Football Hall of Fame and is a director of the Pittsburgh Steelers Football Club.

Dr. Paul previously served in senior leadership roles with the American Red Cross, including as vice chairman of its Board of Governors, and was recognized with the organization’s Harriman Award for Distinguished Volunteer Service.

Trebbi is an experienced public company director and investment management executive with more than 30 years of experience in global asset management, finance, and corporate governance. She currently serves as an independent director of Acadian Asset Management Inc., where she chairs the Compensation Committee and serves on the Audit Committee and Nominating and Governance Committee.

Trebbi spent more than three decades in institutional investment management, most recently as senior partner of Mercator Asset Management LP, where she helped grow the firm’s assets under management from approximately $2 billion to more than $13 billion. Earlier in her career, she served as senior vice president and head of International Equities at Mackenzie Investment Management Inc. and was a member of the firm’s Executive Committee.

Trebbi also serves as co-CEO of Landry Trebbi Investment Corp. and as a member of the Board of Trustees of Nova Southeastern University.

Trebbi earned a bachelor of science degree in business administration (finance) from the University of Florida and a graduate diploma in accounting and finance from the London School of Economics and Political Science. She holds the chartered financial analyst designation.

The company is also advancing a diversified pipeline across dry eye disease, surgical technologies, consumer eye health, contact lenses, retinal diseases, and emerging areas including artificial intelligence (AI) and computational biology. This breadth is designed to support a sustained cadence of innovation and address important structural trends in eye health, including aging populations, rising childhood myopia, and the growing prevalence of dry eye and retinal disease.

For nearly two centuries, Bausch + Lomb has evolved with the changing needs of patients and customers. From contact lenses to prescription products, over-the-counter options, surgical devices, and more, the company strives to turn ideas into better outcomes.