Bausch Health’s Joe Papa resigns from board, John Paulson named chairperson


Bausch Health Companies Inc. BHC, +20.36% disclosed Friday that Joseph Papa has resigned from the board of directors as of June 23. The specialty pharmaceutical company named John Paulson as its chairperson of the board. The company said Papa’s resignation from the board “was not due to any dispute or disagreement” with management or with the company’s operations or policies. Papa had stepped down from his role of chief executive officer in May, and was succeeded by Thomas Appio. Papa was slated to be chairperson and CEO of Bausch + Lomb following the initial public offering of the Bausch + Lomb eye health business. Paulson is the president of investment management company Paulson & Co. Bausch Health’s stock, which was still inactive in premarket trading, has tumbled 73.7% year to date, while the S&P 500 SPX, +3.06% has dropped 20.4%.

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