This from today’s The Miami Herald Shares of Bausch & Lomb (BOL) fell 3 percent Friday after an internet columnist revealed that a company news release falsely claimed that Chief Executive Ronald Zarella graduated from business school. In announcing Zarella’s appointment as CEO last November, Bausch & Lomb said he graduated from New York University’s Stern School of Business in 1978. Zarella did attend the MBA program from 1972 to 1976 but left without graduating, the company acknowledged Friday. Shares dropped almost 7 percent in early trading after the error was disclosed by Herb Greenberg, a columnist at thestreet.com. The company posted a corrected biography on its website. By the close, Bausch & Lomb shares were down $1.01 to $34.48 in trading on the New York Stock Exchange. It is interesting to note that Zarella was previously the president of GM's North America operation. His bio at GM stated that he earned a B.S. degree in engineering from Worcester Polytechnic Institute in 1971 and a master's degree in business administration from New York University in 1978. Previous to his stint at GM he was with Bausch & Lomb. He returned to Bausch & Lomb to restructure the company, which involved laying off 7 percent of the company's workforce.
