Bausch + Lomb and its CEO, Joseph Papa, have entered into an Amended and Restated Separation Agreement pursuant to which Papa has agreed to continue serving as CEO until at least March 4, 2023 and lasting until such date as the Board of Directors determines in its discretion or his successor is appointed, but no later than June 30, 2023. The Amended Separation Agreement also made certain changes to Papa’s compensation in connection with his separation from the company.
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