Bausch & Lomb recruits two Schering-Plough leaders as CEO, chairman

ROCHESTER, N.Y. Bausch & Lomb on Monday recruited two former Schering-Plough senior leaders to take the reigns at the eye care company.

Former Schering-Plough chairman and CEO Fred Hassan will now serve as B&L chairman, and Brent Saunders, most recently SVP and president of Schering-Plough’s Consumer Healthcare unit, was named CEO. The moves are effective immediately.

B&L’s current chairman and CEO Gerald Ostrov is retiring and will serve as a consultant during the transition, B&L stated.

"Jerry Ostrov stabilized a very challenging situation at Bausch & Lomb and helped move us toward a stronger global organization,” stated Hassan. “Now we will be initiating a new phase to take Bausch &  Lomb to an even higher level of performance. I look forward to my role as chairman of an active and engaged board of directors, working closely with and supporting our new CEO Brent Saunders."