Monday, June 21, 2010

Saunders/Hassan: "We're Gettin' The Band Back Together" -- At B + L

Well, this story is starting to read (more than just) a little like "Joliet" Jake, and Elwood Blues, isn't it? They'll stop by to visit the penguins -- to find out where the other band members have landed, then go coerce the rest to "join" back up -- for one more barn-storming tour. Hide your children, and valuables. Here's the Marketwire presser:

. . . .Bausch + Lomb. . . has appointed Rodney (Rod) W. Unsworth as president, Asia-Pacific, effective July 1.

"Rod has a. . . record of driving. . . change in global health care companies, with a particular focus on Asia-Pacific," said Brent Saunders, chief executive officer, Bausch + Lomb. "His counsel and leadership will be extremely valuable as we work to build B+L into a high-performance competitor in Asia and worldwide. . . ."

Mr. Unsworth served as president, Asia-Pacific, for Schering-Plough Corporation from 2004 until its merger with Merck in 2009. In that role, he led a performance turnaround in key markets such as China.

From 1995 to 2002. . . with Pharmacia as president, Asia-Pacific; global vice president, Ophthalmology and Metabolic Diseases; and managing director, Pharmacia & Upjohn Australia. . . .

I gather this bloke goes all the way back to Pharmacia, with Ex CEO Hassan, Cox and Saunders. Wow. Because B&L is now private, look for a partial public offering, followed by a temporary stock price spike. . . then a series of sharp declines, as the dense B&L executive suite "happy talk" fog burns off -- in the bright sunshine of very-poor, but independently-audited, actual financial performance. You've been warned -- but these are just my hunches, if this same crew follows its previous scripts, at Schering-Plough, and Pharmacia.

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