Brenton Saunders tapped as new president, CEO of Forest Labs

NEW YORK — The former CEO of Bausch + Lomb has been appointed president and CEO of Forest Labs, the drug maker said Tuesday.

Forest announced that it had hired Brenton Saunders to head the company, effective Oct. 1. Saunders will replace Howard Solomon, who has served as a director of Forest since August 2011. Saunders is currently chairman of the board's compensation committee and a member of its compliance committee and will step down from those roles once assuming the new position. Solomon will remain as non-executive chairman of the board through the company's 2014 annual meeting of stockholders, when Saunders will become the new chairman.

"Forest is an outstanding company with outstanding people, products and prospects," Saunders said. "It is an honor to be asked to take over the role as CEO and president, and I look forward to getting started immediately."

Saunders served as Bausch + Lomb's CEO from 2010 through last month. Before that, he served in several leadership positions at Schering-Plough Corp., from 2003 until 2009, when Merck acquired the company.