Sam Eldessouky Will Succeed Paul S. Herendeen as Chief Financial Officer, Effective June 1, 2021 Herendeen Will Remain at Bausch Health as Advisor to the Chairman and CEO Bausch Health Companies Inc. today announced that Chief Financial Officer Paul S. Herendeen will be appointed to the newly created role of Advisor to the chairman and chief executive officer of Bausch Health, effective June 1, 2021 . Mr. Herendeen ...

Sam Eldessouky Will Succeed Paul S. Herendeen as Chief Financial Officer, Effective June 1, 2021

Herendeen Will Remain at Bausch Health as Advisor to the Chairman and CEO

Bausch Health Companies Inc. (NYSETSX: BHC) ("Bausch Health" or the "Company") today announced that Chief Financial Officer (CFO) Paul S. Herendeen will be appointed to the newly created role of Advisor to the chairman and chief executive officer (CEO) of Bausch Health, effective June 1, 2021 . Mr. Herendeen will be succeeded as CFO by Sam Eldessouky senior vice president, controller and chief accounting officer of Bausch Health. Mr. Herendeen will remain an executive vice president (EVP) and Section 16 officer of Bausch Health.

"Since joining the Company in 2016, Paul has had a profound impact on Bausch Health," said Joseph C. Papa , chairman and CEO, Bausch Health . "When Paul began his tenure as CFO, the Company faced significant operating and financial challenges, the most pressing of which was a daunting amount of debt, much of which was maturing near-term. His disciplined financial approach and strong operational focus were invaluable to the Company as he developed and executed a plan to reduce our debt and extend the length of our maturities, giving the businesses freedom to operate. I am grateful to Paul for all of his contributions as CFO, and I look forward to continuing to work with him in his new role."

"It has been an honor to lead such a talented team at Bausch Health, particularly during the last year in which my colleagues displayed tremendous resilience as we navigated the unprecedented issues and challenges arising from the COVID-19 pandemic," said Mr. Herendeen. "As I transition to a less operational, more strategic role at Bausch Health, I am delighted that Sam Eldessouky will assume the role of CFO. Together we accomplished a lot over these past four years, and I am confident there is no one better suited to serve as the next CFO of Bausch Health than Sam."

Sam Eldessouky Will Become Executive Vice President and Chief Financial Officer of Bausch Health
Effective June 1, 2021 , Mr. Eldessouky will assume the role of CFO and join the Company's executive committee. He will report directly to Mr. Papa.

"I am pleased to announce the promotion of Sam Eldessouky to chief financial officer of Bausch Health and welcome him to the executive team," said Mr. Papa. "Sam has been a leading force in executing the planned spinoff of our eye health business with his unique wealth of knowledge having successfully spun out several companies in a prior position. Additionally, over the past five years, his deep financial knowledge and strategic vision have helped to establish efficient and effective global financial policies at Bausch Health. As we look toward the future of our organization, I am confident that Sam's expertise and insights will play a crucial role in unlocking long-term value for our shareholders."

"It is an exciting time at Bausch Health, and I am very enthusiastic for the opportunity to contribute to the company's future success," said Mr. Eldessouky. "I would like to thank Paul for establishing a strong finance function at Bausch Health, and I'm proud to lead the finance organization as we work to separate into two successful, independent companies."

Mr. Eldessouky joined Bausch Health in 2016 as senior vice president and corporate controller. In his current role, he is responsible for overseeing the global controllership functions, including financial reporting, regional finance and global policies. Previously, he served as senior vice president, controller and chief accounting officer for Tyco International plc. During his tenure at Tyco, Mr. Eldessouky led the efforts to redesign the controller's organization and the implementation of Enterprise Performance Management framework, and he played a significant role in the wholesale turnaround of Tyco's business. He also played a key role in executing the spinoffs of Covidien and Tyco Electronics in 2006 and ADT NA and Flow Control in 2012. Prior to that, Mr. Eldessouky spent ten years at PricewaterhouseCoopers (PwC), where he held several roles of increasing responsibility and served in PwC's National Office providing technical accounting guidance on complex accounting matters.

Mr. Eldessouky holds a Bachelor of Science in Accountancy from Ain Shams University and a master's degree in Accounting and Finance from the University of Liverpool . He is a Certified Public Accountant and Chartered Global Management Accountant. He served as a member of the Board of Trustees of Financial Executives Research Foundation and Financial Executives International. Additionally, Mr. Eldessouky served as a member of the Global Preparers Forum, an external advisory body to the International Accounting Standards Board, from 2007 to 2013.

A successor for Mr. Eldessouky in his current role as senior vice president, controller and chief accounting officer is under review by leadership and is expected to be announced shortly.

Update on Planned Spinoff of Bausch Health's Leading Eye Health Business
As previously announced, Bausch Health intends to spin off its leading eye health business, Bausch + Lomb, into an independent publicly traded company. The Company has continued to make progress on its plans to expedite the spinoff and will announce executive leadership when it reports its first-quarter 2021 financials in early May.

About Bausch Health
Bausch Health Companies Inc. (NYSE/TSX: BHC) is a global company whose mission is to improve people's lives with our health care products. We develop, manufacture and market a range of pharmaceutical, medical device and over-the-counter products, primarily in the therapeutic areas of eye health, gastroenterology and dermatology. We are delivering on our commitments as we build an innovative company dedicated to advancing global health. More information can be found at .

Forward-looking Statements
This news release may contain forward-looking statements, which may generally be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "believes," "estimates," "potential," "target," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in Bausch Health's most recent annual report on Form 10-K and detailed from time to time in Bausch Health's other filings with the U.S. Securities and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a material adverse impact on Bausch Health, including but not limited to its project development timelines, and costs (which may increase). Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. Bausch Health undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law.

Investor Contact:

Media Contact:

Arthur Shannon

Lainie Keller

(514) 856-3855

(908) 927-1198

(877) 281-6642 (toll free)

Cision View original content to download multimedia:

SOURCE Bausch Health Companies Inc.

Cision View original content to download multimedia:

News Provided by Canada Newswire via QuoteMedia

Leveljump Healthcare Strengthens Board of Directors

Leveljump Healthcare Strengthens Board of Directors

LevelJump Healthcare Corp. (TSXV: JUMP) (OTCQB: JMPHF) (FSE: 75J) ("Leveljump" or the "Company"), a Canadian leader in B2B telehealth solutions, is pleased to announce new additions to its board of directors and its advisory board.

Gary Prihar - Director

Keep reading... Show less
ALR Technologies and Infinovo Sign Memorandum of Understanding to Manufacture World's First CGM for Diabetic Pets

ALR Technologies and Infinovo Sign Memorandum of Understanding to Manufacture World's First CGM for Diabetic Pets

ALR Technologies ("ALRT" or the "Company") (OTCQB: ALRT), the diabetes management company, is pleased to announce the signing of a Memorandum of Understanding ("MOU") with Infinovo Medical Co. Ltd for a global supply agreement of their P3 Continuous Glucose Monitor (CGM) for use by ALRT in the animal health sector.

Under the terms of the MOU, ALR Technologies and Infinovo will collaborate to integrate Infinovo's P3 CGM with ALRT's proprietary GluCurve platform. The Company expects to begin testing the GluCurve Pet CGM in veterinary clinics in late December 2021 or early January 2022. The testing is scheduled to complete by the end of February 2022.

Keep reading... Show less

Medtronic Hugo robotic-assisted surgery system receives Health Canada licence, further enabling access to robotic-assisted surgery in Canada

Medtronic Canada ULC, a subsidiary of Medtronic plc (NYSE: MDT), the world's leading medical technology company, announced it has received a Health Canada licence for the Hugo™ robotic-assisted surgery (RAS) system for use in use in urologic and gynecologic laparoscopic surgical procedures, which make up about half of all robotic procedures performed today. 1

Keep reading... Show less

APMA Grants Seal of Approval for JUBLIA® Topical Solution, 10%

Bausch Health Companies Inc. (NYSETSX: BHC) ("Bausch Health") and its dermatology business, Ortho Dermatologics, one of the largest prescription dermatology health care businesses, today announced JUBLIA ® (efinaconazole) Topical Solution, 10%, a treatment for onychomycosis, a fungal infection of the toenails, has received the American Podiatric Medical Association (APMA) Seal of Approval. The APMA Seal of Approval is granted to products that promote good foot health and are of significant value when used in a consistently applied program of daily foot care and regular professional treatment.

Keep reading... Show less

Johnson & Johnson COVID-19 Booster, Administered Six Months After Two-Dose Regimen of BNT162b2, Shows Substantial Increase in Antibody and T-cell Responses

- Johnson & Johnson (NYSE: JNJ) (the Company) today announced preliminary results from an independent study, including a subset of participants from the Janssen-sponsored COV2008 study, conducted by Dan Barouch M.D., Ph.D., et al. of Beth Israel Deaconess Medical Center (BIDMC), which showed that a booster shot of the Johnson & Johnson COVID-19 vaccine (Ad26.COV2.S), administered at six months after a two-dose primary regimen of BNT162b2, increased both antibody and T-cell responses. These results demonstrate the potential benefits of heterologous boosting (mix-and-match). The article describing these results have been posted on medRxiv .

"There is early evidence to suggest that a mix-and-match boosting approach may provide individuals with different immune responses against COVID-19 than a homologous boosting approach," said Dan Barouch , M.D., Ph.D., Director of the Center for Virology and Vaccine Research at BIDMC. "In this preliminary study, when a booster dose of Ad26.COV2.S was given to individuals six months after a primary regimen with the BNT162b2 vaccine, there was a comparable increase of antibody responses at week four following the boost and a greater increase of CD8+ T-cell responses with Ad26.COV2.S compared with BNT162b2."

Keep reading... Show less

Janssen to Showcase Progress on Respiratory Syncytial Virus Vaccine Candidate at ESWI 2021

The Janssen Pharmaceutical Companies of Johnson & Johnson (NYSE: JNJ) today announced it will present data from six company-sponsored studies in support of their respiratory syncytial virus (RSV) adult vaccine candidate at the Eighth European Scientific Working Group on Influenza (ESWI) meeting . The cornerstone of Janssen's presence at ESWI will be a series of presentations detailing findings from the Phase 2b CYPRESS trial in adults at increased risk for RSV.

Keep reading... Show less

Top News

Related News