Bausch + Lomb board members resign after Icahn agreement ends

Bausch + Lomb Corporation (NYSE/TSX: BLCO) announced that Brett M. Icahn and Gary Hu have resigned from its board of directors following the termination of a director appointment agreement with Carl C. Icahn and his affiliates.

The Amended and Restated Director Appointment and Nomination Agreement, dated June 21, 2022, terminated when the Icahn group's net long position in Bausch Health Companies Inc., Bausch + Lomb's parent company, fell below the required threshold specified in the agreement.

"I appreciate Brett and Gary's valuable contributions to the company over the past three years, and wish them well going forward," said Brent Saunders, chairman and CEO of Bausch + Lomb.

The resignations reduce the size of Bausch + Lomb's board following the conclusion of the three-year arrangement with the activist investor group. The eye health company operates in approximately 100 countries and employs about 13,500 people globally.

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