Forest Laboratories, Inc. (NYSE:FRX) today announced that Brenton L. Saunders, 43, the former Chief Executive Officer of Bausch + Lomb, has been appointed Forest’s Chief Executive Officer and President, effective October 1, 2013. Mr. Saunders, who will succeed Howard Solomon, has served as a Forest director since August 2011. He is currently Chairman of the Board’s Compensation Committee and is a member of its Compliance Committee and will step down from those roles on becoming CEO and President. As previously announced, Mr. Solomon will remain non-executive Chairman of the Board through the Company’s 2014 Annual Meeting of Stockholders (AMS). Mr. Saunders is expected to also become Chairman of the Board at that time.
In addition to his service as a Forest director, Mr. Saunders served as Chief Executive Officer of Bausch + Lomb from 2010 to August, 2013, where he led a transformation of that company into a global competitor in more than 100 markets. From 2003-2009, Mr. Saunders held a number of senior leadership positions at Schering-Plough Corporation, including as President of Global Consumer Health Care and a member of the executive management team. While at Schering-Plough, he also served as Integration Head for its 2007 acquisition of Organon BioSciences and the Company’s 2009 merger with Merck & Company. Prior to Schering-Plough, he was a partner at PricewaterhouseCoopers LLP and, before that, he served as Senior Vice President, Compliance, Legal and Regulatory at Homecare Corporation of America. From 1992-1997, he held several positions at Thomas Jefferson University Hospital, finishing his career there as Chief Compliance Officer. Mr. Saunders holds a Bachelor’s degree in Economics and East Asian Studies from the University of Pittsburgh, and a JD and MBA from Temple University.
Mr. Saunders serves on the Board of Trustees of the University of Pittsburgh. He also serves on the boards of ElectroCore LLC and the Overlook Hospital Foundation. He is also the former Chairman of the New York chapter of the American Heart Association. He is a member of the Federal Reserve Bank of New York’s Upstate New York Regional Advisory Board, PhRMA and The Business Council.