STAAR Surgical Appoints President Foust and CFO Andrews as Interim Co-CEOs

summarizeSummary

STAAR Surgical appointed its President/COO and CFO as Interim Co-CEOs, following the departure of the previous CEO amidst activist investor pressure, while a search for a permanent CEO is underway.

check_boxKey Events

• Interim Co-CEOs Appointed

  Warren Foust (President and COO) and Deborah Andrews (CFO) have been appointed as Interim Co-Chief Executive Officers, effective February 1, 2026.

• Follows Previous CEO Departure

  This appointment follows the stepping down of former CEO Stephen C. Farrell, which was previously announced in connection with a cooperation agreement with activist investor Broadwood Partners.

• Global Search for Permanent CEO Initiated

  The Board has established a Search Committee and initiated a global search for the Company's next Chief Executive Officer, considering both internal and external candidates.

• Interim Compensation and Severance Details

  Each interim co-CEO received an equity award of $375,000 in restricted stock units. A letter agreement with Mr. Foust outlines additional compensation and benefits if he is not offered the permanent CEO position.

auto_awesomeAnalysis

STAAR Surgical Company has appointed Warren Foust (President and COO) and Deborah Andrews (CFO) as Interim Co-Chief Executive Officers, effective February 1, 2026. This follows the previously announced departure of former CEO Stephen C. Farrell, which was a result of a cooperation agreement with activist investor Broadwood Partners. The Board has initiated a global search for a permanent CEO. The appointment of internal, experienced leaders provides continuity during this transition, but the ongoing search and the circumstances of the previous CEO's departure introduce an element of uncertainty for investors.