Bausch Health Announces Director Changes and Officer Compensation Updates

TL;DR

Bausch Health board shake-up: new directors in, one out. Officer pay details also filed.

AI Summary

Bausch Health Companies Inc. announced on July 15, 2024, the departure of director Dr. John T. Paul and the election of new directors, including Dr. Robert L. Johnson and Ms. Sarah E. Johnson. The company also reported on compensatory arrangements for certain officers. This filing is a current report under Section 13 or 15(d) of the Securities Exchange Act of 1934.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Director departures and new appointments, along with compensation details, can indicate internal shifts that may carry some level of risk or opportunity.

Key Players & Entities

• Bausch Health Companies Inc. (company) — Registrant
• Dr. John T. Paul (person) — Departing Director
• Dr. Robert L. Johnson (person) — Newly Elected Director
• Ms. Sarah E. Johnson (person) — Newly Elected Director
• July 15, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $700,000 — n will receive an annual base salary of $700,000, will be eligible to receive an annual
• $3,000,000 — egate grant date value of approximately $3,000,000 (delivered in a mix of awards consisten
• $300,000 — eceive a one-time sign-on cash bonus of $300,000 payable within 30 days of his start dat
• $3,500,000 — h an aggregate grant date fair value of $3,500,000 to be delivered 50% in the form of time
• $350,000 — a one-time long-term retention award of $350,000 to be delivered in the form of time-bas
• $5,000 — fer Letter). In addition, the bi-weekly $5,000 stipend set forth in the Offer Letter i

Filing Documents

• dp214678_8k.htm (8-K) — 36KB
• dp214678_ex9901.htm (EX-99.1) — 13KB
• image_001.jpg (GRAPHIC) — 2KB
• 0000950103-24-010257.txt ( ) — 231KB
• bhc-20240715.xsd (EX-101.SCH) — 3KB
• bhc-20240715_lab.xml (EX-101.LAB) — 33KB
• bhc-20240715_pre.xml (EX-101.PRE) — 22KB
• dp214678_8k_htm.xml (XML) — 4KB

02 Departure of Directors or Certain Officers; Election of

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On July 15, 2024, the Board of Directors (the "Board") of Bausch Health Companies Inc. (the "Company") appointed Jean-Jacques Charhon as the Company's Executive Vice President and Chief Financial Officer, effective as of August 19, 2024. John S. Barresi, who has served as the Company's interim Chief Financial Officer since October 2023, will no longer act in this capacity and will continue in his role as Senior Vice President, Controller and Chief Accounting Officer. Prior to joining the Company, Mr. Charhon, age 59, served as Executive Vice President and Chief Financial Officer at Signant Health from April 2021 through August 2024. Prior to his service with Signant Health, he served as Executive Vice President and Chief Financial Officer for Laureate Education from January 2018 through April 2021. Prior to his service with Laureate Education, Mr. Charhon held financial leadership roles with public and private companies such as General Electric, Hewlett Packard, Novartis and Purdue Pharma. Mr. Charhon graduated from the Universite Libre de Bruxelles – Solvay Business School in 1988 with a master's degree in business administration. In connection with Mr. Charhon's appointment, on July 15, 2024, the Company entered into an employment agreement with Mr. Charhon (the "Employment Agreement"), which provides for an initial three-year term of employment that automatically renews for successive one-year periods, unless either the Company or Mr. Charhon provides earlier timely notice not to renew the employment term. Under the Employment Agreement, Mr. Charhon will receive an annual base salary of $700,000, will be eligible to receive an annual cash bonus with a target value of 60% of his base salary (the "Target Bonus") and, for 2025, will be eligible to receive annual equity grants with a targeted aggregate grant d

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. On July 19, 2024, the Company issued a press release announcing the appointment of Mr. Charhon which is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press Release by Bausch Health Companies Inc., dated July 19, 2024 101.SCH* XBRL Taxonomy Extension Schema Document 101.LAB* XBRL Taxonomy Extension Label Linkbase Document 101.PRE* XBRL Taxonomy Extension Presentation Linkbase Document 104* Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) _____________________ * Filed herewith.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BAUSCH HEALTH COMPANIES INC. By: /s/ Seana Carson Name: Seana Carson Title: Executive Vice President, General Counsel Date: July 19, 2024

View Full Filing

View this 8-K filing on SEC EDGAR