Ex-Schering-Plough Executives Take Reins at Bausch
Two former top executives of drugmaker Schering-Plough Corp were named as new leaders of privately owned eye-care company Bausch & Lomb, according to Reuters. Former Schering-Plough Chief Executive Officer Fred Hassan will be chairman of Bausch''s board, while Brent Saunders, who previously served as president of Schering-Plough''s consumer healthcare unit under Hassan, will be Bausch''s CEO. Both appointments are effective immediately, said Bausch, which is majority-owned by Warburg Pincus. Bausch''s Chairman and CEO Gerald Ostrov is retiring and will serve as a consultant to the new leaders. One of the drug industry''s most prominent executives, Hassan left Schering after its acquisition by Merck & Co. last year. He has served as senior adviser to Warburg Pincus since November.