ROCHESTER, N.Y. — Bausch & Lomb announced today that it has named Gerald M. Ostrov as chairman and chief executive officer, effective immediately. Most recently, Mr. Ostrov was company group chairman, Worldwide Vision Care, for Johnson & Johnson, where he led the company’s global Vision Care businesses from 1998 to 2006.
Current Chairman and CEO Ronald L. Zarrella, 58, will retire in March and serve as chairman emeritus.
“It has been a privilege to serve as Bausch & Lomb’s chairman and CEO since 2001,” said Mr. Zarrella. “Working with thousands of highly talented employees worldwide, we were able to grow every aspect of the company while enhancing its reputation as the world’s premier eye health brand. Jerry has extensive experience in ophthalmic businesses and consumer marketing, and is the ideal leader to take Bausch & Lomb into a new era of growth.”
Mr. Ostrov, 58, first joined Johnson & Johnson in 1976, before leaving for Ciba-Geigy AG in 1982. He was named president, Ciba Consumer Pharmaceuticals, in 1985. In 1991, he returned to Johnson & Johnson as president of its Personal Products business, and then became company group chairman for its North American Consumer and Personal Care businesses.
“It’s an honor to lead Bausch & Lomb into a growth period, one that we believe will be marked by considerable success across the vision care, pharmaceutical and surgical businesses,” said Mr. Ostrov. “I’m impressed by the passion of the company’s employees, and its strong relationships with industry partners and customers. We’re going to build upon an unparalleled 155-year-old foundation of trust and innovation.”
Mr. Ostrov continued, “Warburg Pincus’ commitment to a long-term investment horizon, and the collaborative relationship it has quickly built with Bausch & Lomb, is empowering the company to grow. This week’s eyeonics acquisition announcement is testament to our positive momentum.”
Elizabeth H. Weatherman, a Warburg Pincus managing director and member of the Bausch & Lomb Board of Directors, commented, “We thank Ron for his dedication to Bausch & Lomb. He was instrumental in growing all aspects of the business, in leading the company through the 2006 recall, and then reestablishing widespread momentum — an element vital for the organization’s continued success. Jerry’s extraordinary knowledge of the eye health industry will be instrumental as he leads Bausch & Lomb into an extended period of growth.”
Mr. Ostrov holds an M.B.A. from Harvard University and a B.S. degree in industrial engineering and operations research from Cornell University.
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Bausch & Lomb is the eye health company dedicated to perfecting vision and enhancing life for consumers around the world. Its core businesses include soft and rigid gas permeable contact lenses and lens care products, and ophthalmic surgical and pharmaceutical products. The Bausch & Lomb name is one of the best known and most respected healthcare brands in the world. Founded in 1853, the Company is headquartered in Rochester, N.Y., and employs approximately 13,000 people worldwide. Its products are available in more than 100 countries. More information about the Company can be found at www.bausch.com.