Brent, thanks so much for joining us inside the Ice House. Really appreciate you being here.
Thank you for having me. Excited to do this.
So, I want to kick things off with what feels like a comeback story, right? My podcasting career began in sports. And in sports, you often see coaches return to programs they once led, driven by a sense of unfinished business, right? redemption of sorts, a belief that the work wasn't quite done. You were CEO of Bausch + Lomb from 2010 to 2013, then stepped away for a decade before returning in 2023. Was it about unfinished business, redemption, something else entirely? What brought you back to the company you left 10 years ago?
Yeah, I mean, great question. I think there were multiple factors. There were probably two most important. One was a sense of unfinished business and the second was a real passion for eye health. So when I left in 2013, I went on to create what became Allergan, which was also a significant eye care company. A lot of other things, but also eye care. So I'd remained in the eye health field. But the opportunity to come back to a company that is 172 years old now, that is exclusively and broadly focused on eye health, and a company where I felt like my time was cut short because of the private equity ownership structure we had, and then it kind of got lost in a bigger value health. To bring it back as a focused eye care company and really bring innovation back into the field was just too amazing an opportunity to pass up.
And so you mentioned your time at Allergan starting that company and your decade hiatus saw a few different stops along the way. When you stepped back into the role though of CEO of Bausch + Lomb in 2023, did you feel like a different leader than you were in 2013? How did your sort of experiences from the end of I'll call it 1.0 to the beginning of 2.0 change over time.
Oh, significantly. When I became CEO of Bausch + Lomb in 2010, it was my first CEO job.
And it was my first time in eye care. So I had a steep learning curve. I was learning on the job in 2010.
Come back in 2023 and you're an expert.
Well, I'm not an expert, but I have much more confidence. I have a much greater knowledge of the role of the CEO, and a lot greater knowledge of the eye health field and the ecosystem and the players and the technologies. The best word is I came back with a lot more confidence but also the humility of knowing I didn't have all the answers and I needed a great team around me.
And so 10 years is a long time, right? Coming back to Bausch + Lomb must have felt like stepping into a familiar place, but obviously with a new lens. When you returned, what were some of the first things you noticed that made you think the company needs to evolve? What were some of those initial priorities?
Yeah. So, I've said this before. I felt like I came back and opened a time capsule. The company had been put in this capsule for 10 years and it was exactly, in many regards, as I had left it. A lot of things that were being worked on were programs and projects I had started in 2012 or 2013 that hadn't finished. So it was very familiar ground. That being said, it was clear to me what had to happen to get the company out of neutral and back into drive. It was stuck in a static position, and I wanted to regain momentum and push forward at an accelerated path. That was what I focused on.
Was it a hit-the-ground-running approach or more of a listen and observe first?
I came in saying let's get a running start and in parallel listen and learn. For example, I had about 10 or 11 direct reports and I replaced nine of them within the first several weeks, combining outside hires and internal promotions. The board said maybe I was moving too fast, but I needed to get the team right from the get-go because we had a lot of transformation work to do.
And so you mentioned the company was in neutral when you came back. How do you break away from the status quo, especially with a company with such a long legacy? How do you make sure you get off to a running start and innovate right away?
That's a really hard problem to solve. I think the answer is straightforward: talent and culture. What makes great companies starts with talent and culture, leading to great products and outcomes. The only investment with unlimited compounding potential is talent. So I focused on redoing my direct reports, because A players attract A players. Culture is a slow-moving process, but changing culture changes performance. One critical area was R&D talent—elevating internal scientists and recruiting best-in-class. Innovation is the lifeblood, and it's a long cycle. Things we started three years ago are now at the forefront of clinical programs. You don't have time to wait.
Absolutely. You hit the ground running. So you mentioned innovation, culture, and values. It's been two years, and as we look toward 2026, who is Bausch + Lomb right now?
Our goal is to be the best eye health company, not the biggest. There are three KPIs: the most meaningful innovation addressing unmet medical need, talent and culture, and financial performance. Patients get the innovation, shareholders get the return. It's like in sports—you measure if you're the best by winning the Super Bowl. For me, raising the standard of care for eye health is our Super Bowl.
