Bausch + Lomb has some new executive leadership.

The company named two men to take over the duties of retiring Chairman and CEO Gerald Ostrov.

Effective immediately, Fred Hassan takes over as chairman of the board. The Bausch + Lomb board also appointed Brent Saunders as chief executive officer.

Ostrov will serve as a consultant to the new leaders.

Hassan most recently served as Chairman and CEO of Schering-Plough Corporation. Saunders served as corporate senior vice president and president of Schering-Plough’s consumer health care unit.

Bausch + Lomb