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Bausch Health Names Hedge Fund Billionaire Paulson Chairman

  • Paulson & Co. founder replaces Joseph Papa, who resigned
  • Company has stumbled in 2022 after rebranding from Valeant
John Paulson
John PaulsonSource: Bloomberg Television
Updated on

Bausch Health Cos. named hedge fund billionaire John Paulson as its new chairman, replacing Joseph Papa, who resigned Thursday.

The pharmaceutical and device company, which focuses on eye care, gastroenterology and dermatology products, said Papa’s resignation wasn’t the result of “any dispute or disagreement.” Paulson, who is also the company’s second-largest shareholder, starts immediately.