This Week
  • GM injection: The automaker has invested $150 million here since 2011.

  • East High School teacher and blogger Kelly LaLonde speaks out about education.

  • HBT Architects took a risk and parted with some clients on its new path.

  • Placing a loved one in an elder care facility is not an easy decision for caregivers.

  • Robert W. Hurlbut heads a 1,400-employee business started by his grandparents.

  • The new edition of Explore Greater Rochester is here.

Drug developer hires B&L's former CEO Saunders

Rochester Business Journal
September 16, 2013

Former Bausch & Lomb Inc. CEO Brent Saunders has landed a job heading Manhattan-based drug developer Forest Laboratories Inc., maker of the anti-depression drug Lexapro.

Saunders has been a Forest Labs board member since 2011. The company announced last week he is slated to take its helm as president and CEO on Oct. 1.

A letter Forest Labs filed with the Securities and Exchange Commission offers Saunders the post for a base salary of $1.3 million a year with a chance to earn cash bonuses that would more than triple the base amount.

Brought in to head Bausch & Lomb in 2010 by the eye-care company’s former private-equity owner, Warburg Pincus LLC, Saunders tenure at Bausch & Lomb ended when Canada-based Valeant Pharmaceuticals Inc. acquired Bausch & Lomb in an $8.6 billion deal last month.

In June, Forest Labs announced an agreement with activist investor Carl Icahn to seat Icahn Capital LLP managing director Vincent Intrieri on its board. In exchange, Icahn agreed not stage proxy fights for control of Forest Labs as he had in 2010 and 2011, Forest Labs said in a June 11 SEC filing.

Icahn last week issued a statement praising Forest Labs selection of Saunders as its next chief executive. 
    
(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.
 


 


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google