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Bausch Health names hedge fund manager John Paulson as chairperson

LAVAL, Que. — Bausch Health Companies Inc. says hedge fund manager John Paulson has been named chairperson of its board of directors, replacing Joseph Papa. Paulson is president and portfolio manager of Paulson & Co. Inc.
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The headquarters of Bausch Health Solutions, formerly known as Valeant Inc., is seen in Laval, Que., Wednesday, February 20, 2019. Bausch Health Companies Inc. says hedge fund manager John Paulson has been named chairperson of its board of directors, replacing Joseph Papa. THE CANADIAN PRESS/Ryan Remiorz

LAVAL, Que. — Bausch Health Companies Inc. says hedge fund manager John Paulson has been named chairperson of its board of directors, replacing Joseph Papa.

Paulson is president and portfolio manager of Paulson & Co. Inc., an investment management company, which he founded in 1994. 

He previously served on the board of Bausch Health from June 2017 to May 2022.

The company says Papa's decision to resign from the board was not due to any dispute or disagreement with the company, its management or the board.

Papa, who stepped down as chief executive of Bausch Health earlier this year, remains chairman and chief executive of Bausch + Lomb Corp., which recently completed its initial public offering and is being spun off from Bausch Health.

Paulson is an independent director of Bausch + Lomb.

This report by The Canadian Press was first published June 24, 2022.

Companies in this story: (TSX:BHC, TSX:BLCO)

The Canadian Press