Saunders/Hassan “Mini-Me” IPO Redux, At Bausch + Lomb?

Not surprisingly — Brent is clearly channeling his old (and current) boss, Fred Hassan (now as the Chairman of the Board of B+L). Saunders is actively cutting heads, adding low-cost hires off-shore, and dreaming of going public again — in the hopes of creating a huge five year gain for Warburg Pincus, the firm that created a soft landing for Ex-CEO Fred Hassan in early 2010.

More of my own earlier background on it, here, but this is a bit from Thursday’s Reuters story — do go read it all:

. . . .After four years in private hands, Bausch & Lomb may soon head back to the public market as Chief Executive Brent Saunders is setting sights on an IPO for the U.S. eye-care giant “in the next couple of years. . . .”

In an effort to streamline the business, Saunders said over the past year and a half he took out several hundred managers to slim down in favor of more front-line jobs, whether focused on sales, science or manufacturing.

“We are doing quite a bit of hiring in markets like China, India, Brazil, Russia, Eastern Europe,” he said, adding that the company tends to hire several hundred people a year, either to fill opening positions or create new jobs.

“We have a much freer hiring in the developing growth markets and we’re a little bit more cautious in the developed world,” Saunders said. . . .

It’s the Fred Hassan’s “Mini-Me” show all over again, no? Overseas hring, local firings, and breathless chatter of an IPO. Public or private — we’ll keep an eye on this for the readership.


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