Bausch + Lomb board members resign after Icahn agreement ends (updated)

Bausch Health Companies

18/08/2025 22:44

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Aug 18 (Reuters) - Contact lens maker Bausch + Lomb BLCO.TO said on Monday Brett Icahn and Gary Hu have resigned from its board of directors after the termination of the agreement with billionaire investor Carl Icahn and some of his affiliates.

The agreement, dated June 21, 2022, ended after the Icahn group's net long position in Bausch Health Companies BHC.TO, Bausch + Lomb's parent, fell below the required threshold.

On Friday, Bausch Health said Paulson Capital, along with certain affiliates and managed funds, acquired about 34.7 million common shares previously held by the Icahn Group, and now owns about 19.13% of the company's outstanding common shares.

The company added Brett Icahn and Steven Miller resigned from Bausch Health's board, following the termination of a separate director appointment and nomination agreement dated February 23, 2021.

In April, Carl Icahn had built an economic interest covering about 34% of Bausch Health's shares.

Bausch Health separated Bausch + Lomb into another publicly listed company in 2022 while retaining a majority stake. It holds an 87.7% stake, according to data compiled by LSEG.

 (Reporting by Sriparna Roy in Bengaluru; Editing by Vijay Kishore)

 ((Sriparna.Roy@thomsonreuters.com;))