Bausch Health Announces CFO Succession Plan
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Herendeen Will Remain at Bausch Health as Advisor to the Chairman and CEO
LAVAL, Quebec, March 11, 2021 /PRNewswire/ Bausch Health Companies Inc. (NYSE/TSX: BHC) ( Bausch Health or the Company ) today announced that Chief Financial Officer (CFO) Paul S. Herendeen will be appointed to the newly created role of Advisor to the chairman and chief executive officer (CEO) of Bausch Health, effective June 1, 2021. Mr. Herendeen will be succeeded as CFO by Sam Eldessouky, senior vice president, controller and chief accounting officer of Bausch Health. Mr. Herendeen will remain an executive vice president (EVP) and Section 16 officer of Bausch Health.
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o Programmatic
1 n et revenue increased by 30% to $161.6 million (2019: $124.2million) offset by an anticipated decrease of 43% in Performance
2 activity o Total net revenue increased by 12% to $184.3 million (2019: $164.0 million) with 88% of net revenues generated from Programmatic activities compared to 76% in 2019, and 91% in Q4 2020 - see table below · Record H2 adjusted EBITDA
3 of $58.7 million, up 51% vs. H2 2019 o Full year 2020 adjusted EBITDA of $60.5 million (2019: $60.4 million) impacted by Covid-19 related and industry-wide headwinds across global advertising markets in H1 2020 o I ncrease in Programmatic activities, mainly attributable to revenue growth in Connected TV ( CTV ), self-serve platform as well as the DSP offerings in private marketplaces. This was offset by the anticipated decrease in Performance activities