Bausch & Lomb alters organization structure to improve global coordination in core businesses and expedite cost reduction program

Business Wire, Dec 7, 1995

ROCHESTER, N.Y.--(BUSINESS WIRE)--Dec. 7, 1995--Bausch & Lomb announced today that it is altering its organizational structure for the global management of its three core businesses - contact lenses, lens care products and eyewear. William M. Carpenter, executive vice president, will now have global management responsibility for these three businesses, as well as the company's international operations.

Daniel E. Gill, chairman and chief executive officer, said that the organizational change evolved from the company's recently completed three-year strategic planning process. "As we reviewed our total operations, and recognized the necessity and the opportunity to reduce costs by $50 million over the plan's time horizon, it also became apparent that this was the right time to centralize management and provide greater global coordination of activities in our core businesses," he said. "We believe a more coordinated approach to the management of these businesses should enhance our global strategy development and execution, and help us to attain our growth and cost reduction goals."

Carpenter joined Bausch & Lomb in March 1995 as executive vice president and global business manager-eyewear. Prior to that he had been president and chief executive officer of Reckitt & Colman, Inc., the U.S. subsidiary of Reckitt & Colman plc, since 1994; president and chief operating officer from 1992; and president of the Household Products division from 1991. Before joining Reckitt & Colman, he held a variety of sales, marketing and operating positions with Johnson & Johnson's healthcare and consumer products businesses between 1977 and 1991.

CONTACT: Bausch & Lomb, Rochester

Barbara M. Kelley, 716/338-5386 (office)

716/621-7141 (residence)