VAUGHAN, Ontario - Bausch + Lomb Corporation (NYSE/TSX: BLCO), a prominent global eye health company, announced the immediate appointment of Karen L. Ling to its Board of Directors. The addition of Ling comes as current director Richard De Schutter prepares for his retirement from the board at the upcoming 2024 Annual Meeting of Shareholders.
Ling brings extensive experience to Bausch + Lomb, having served in leadership roles across various healthcare organizations. Her previous positions include Executive Vice President and Chief Human Resources Officer at American International Group (NYSE:AIG), Inc., and similar roles at Allergan (NYSE:AGN), Merck, and Wyeth. Ling's current board memberships extend to iRhythm Technologies, where she chairs the Compensation and Human Capital Management Committee, and she has served on the boards of Mallinckrodt (OTC:MNKKQ) Plc and TherapeuticsMD (NASDAQ:TXMD) Inc. Her educational background includes a B.A. in Economics from Yale University and a J.D. from the Boston University School of Law.
Chairman and CEO of Bausch + Lomb, Brent Saunders, expressed gratitude to De Schutter for his advisory role since Saunders's return to the company. He also noted Ling's "significant human capital management, corporate governance and shareholder engagement expertise," anticipating that her perspectives will be beneficial to the company's growth.
Ling commented on her appointment, expressing admiration for Bausch + Lomb's standing in the eye health sector and enthusiasm for contributing to the company's global growth strategy.
Bausch + Lomb, with a history dating back to 1853, has a broad portfolio that includes contact lenses, lens care products, ophthalmic pharmaceuticals, and surgical devices, among others. The company employs approximately 13,000 people and operates in nearly 100 countries.
This announcement is based on a press release statement.
InvestingPro Insights
Bausch + Lomb Corporation (NYSE/TSX: BLCO) is currently navigating through a challenging financial landscape. According to real-time data from InvestingPro, BLCO operates with a significant debt burden, which is reflected in its negative P/E ratio of -23.35. This is further emphasized by an adjusted P/E ratio for the last twelve months as of Q4 2023, which stands at -28.99. Despite this, the company's revenue has shown growth, with a 10.03% increase during the same period, and a quarterly revenue growth in Q4 2023 of 17.77%.
InvestingPro Tips highlight that while BLCO has not been profitable over the last twelve months, net income is expected to grow this year. Analysts have mixed views, with some revising their earnings downwards for the upcoming period, but others predict the company will be profitable this year. It's important to note that BLCO does not pay a dividend to shareholders, which could be a consideration for income-focused investors.
On a more positive note, BLCO has experienced strong returns over the last month and three months, with price total returns of 19.07% and 15.06% respectively. This performance indicates a potential rebound or positive investor sentiment that could be worth monitoring. For those interested in a deeper analysis, there are additional InvestingPro Tips available for BLCO, which can be accessed at: https://www.investing.com/pro/BLCO. Remember to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, offering an even broader array of insights to inform your investment decisions.
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