Bausch + Lomb Corporation (NYSE: BLCO) has appointed Thomas J. Appio as interim chief executive officer, effective immediately, following the mutual departure of Brent Saunders, who had served as CEO since 2023, according to a press release from the company and its parent, Bausch Health Companies Inc. (NYSE/TSX: BHC).

Appio, who has served as CEO of Bausch Health since 2022 and was appointed chairman of the Bausch + Lomb board in August 2026, will hold both roles simultaneously. He joined Bausch + Lomb in 2010 as managing director for China and became president of Bausch + Lomb International in 2016.

During Appio's tenure at Bausch Health, the company, excluding Bausch + Lomb, recorded 13 consecutive quarters of year-over-year growth in revenue and adjusted EBITDA, a non-GAAP measure.

"The opportunity to lead Bausch + Lomb is both a privilege and a responsibility that I embrace with great enthusiasm," Appio said in the statement.

Saunders said in a statement that the company is "stronger, more focused and better positioned for the future" than when he arrived.

Based on preliminary third-quarter 2026 results, both Bausch + Lomb and Bausch Health said they expect to raise their full-year 2026 adjusted EBITDA guidance, excluding acquired in-process research and development. The companies noted they are currently in a blackout period and plan to provide additional details when third-quarter results are reported on Oct. 28.

The companies cautioned that the preliminary guidance update speaks only as of Oct. 12, 2026, and that actual results may differ materially from current estimates pending completion of quarter-end accounting procedures.