Forest Labs. Names Brenton Saunders CEO And President - Quick Facts

(RTTNews) - Drug maker Forest Laboratories, Inc. (FRX) announced that it has appointed Brenton Saunders, 43, the former Chief Executive Officer of Bausch + Lomb, as Chief Executive Officer and President of the company, effective October 1, 2013.

Forest said in May that Howard Solomon would retire as Chief Executive Officer and President, effective December 31.

Saunders has served as a Forest director since August 2011. Saunders will succeed Howard Solomon. He is currently Chairman of the Board's Compensation Committee and is a member of its Compliance Committee and will step down from those roles on becoming CEO and President. Solomon will remain non-executive Chairman of the Board through the Company's 2014 Annual Meeting of Stockholders. Saunders is expected to also become Chairman of the Board at that time.

Saunders served as Chief Executive Officer of Bausch + Lomb from 2010 to August, 2013. From 2003-2009, Saunders held a number of senior leadership positions at Schering-Plough Corporation, including as President of Global Consumer Health Care and a member of the executive management team. Prior to Schering-Plough, he was a partner at PricewaterhouseCoopers LLP and, before that, he served as Senior Vice President, Compliance, Legal and Regulatory at Homecare Corporation of America. From 1992-1997, he held several positions at Thomas Jefferson University Hospital, finishing his career there as Chief Compliance Officer.