In Brief: Bausch & Lomb
This article was originally published in The Gray Sheet
Executive Summary
Bausch & Lomb: Firm's board of directors names William Balderston to lead a committee of independent directors that will "review certain of the company's management and control practices in the wake of a recent magazine article." The article, appearing in the Oct. 23 issue of Business Week, raised questions about B&L's internal operating practices. "We have carefully reviewed the company's recent audits and investigations into assertions regarding sales and accounting practices," Balderston said in a company release. "While we have no reason to believe there is a systemic problem, we do take any question about the company's operating methods extremely seriously"...