At Public Companies -- Act I here; Act II is this blog most-generally (summarized here). I'll have more soon, but this Act III is going to play out largely in secret. Why? Because this is a "dark pharma/consumer health care" role for the two -- so whatever they do, it will be much harder to track -- as the company is not public (per Reuters):
. . . .Two former top executives of drugmaker Schering-Plough Corp were named on Monday as new leaders of privately owned eye-care company Bausch & Lomb.
Former Schering-Plough Chief Executive Officer Fred Hassan will be chairman of Bausch's board, while Brent Saunders, who previously served as president of Schering-Plough's consumer healthcare unit under Hassan, will be Bausch's CEO.
Both appointments are effective immediately, said Bausch, which is majority-owned by Warburg Pincus.
Bausch's Chairman and CEO Gerald Ostrov is retiring and will serve as a consultant to the new leaders. . . .
The company was taken private a few years back. Guess who took it private? That's right -- Warburg Pincus -- in a $4.5 billion buyout. Where Fred Hassan is now a senior advisor. Cozy.
This is a one meeting a month gig for Hassan. He was first named to the B&L board last year, just seven days after the bust-up with Merck closed. Yawn.