VAUGHAN, Ontario—Bausch + Lomb Corporation (NYSE/TSX: BLCO) (B+L) announced that the company and its CEO, Joseph C. Papa, have entered into an amended and restated separation agreement. Under the terms of the agreement, Papa has agreed to continue serving as CEO until at least March 4, 2023, and lasting until the company’s board of directors determines or his successor is appointed, but no later than June 30, 2023. The amended separation agreement also made certain changes to Papa's compensation in connection with his separation from the company.

VMAIL reported in July that B+L had begun a search for Papa’s successor.