Bausch & Lomb fires president

Eyecare company Bausch & Lomb said yesterday it had fired its president and chief operating officer Mr Carl Sassano and warned…

Eyecare company Bausch & Lomb said yesterday it had fired its president and chief operating officer Mr Carl Sassano and warned that revenues would be flat or slightly lower for the rest of the year, sending the stock tumbling 34 per cent late yesterday.

The maker of contact lenses, lens care products and eye surgery equipment blamed slower growth in the vision care segment, price pressure on US generic drugs, product supply constraints and a weak euro.

The company employs 1,400 people at its Waterford manufacturing facility, which produces mainly contact lenses for the European market.

  • Join The Irish Times on WhatsApp and stay up to date

  • Sign up to the Business Today newsletter for the latest new and commentary in your inbox

  • Listen to Inside Business podcast for a look at business and economics from an Irish perspective