STAAR Surgical announced that Warren Foust, President and Chief Operating Officer, and Deborah Andrews, Chief Financial Officer, will serve as interim co‑Chief Executive Officers effective February 1, 2026, following the departure of former CEO Stephen C. Farrell on January 31, 2026. The transition was triggered by a cooperation agreement with activist investor Broadwood Partners after the company rejected a $1.6 billion takeover bid from Alcon.
Foust and Andrews will retain their existing roles while overseeing the company’s day‑to‑day operations. Foust will continue as President and COO, and Andrews will remain CFO, ensuring that the company’s leadership structure remains stable during the search for a permanent CEO.
Both interim leaders will receive restricted stock units valued at $375,000 each, vesting on August 1, 2026. Warren Foust also has additional protective provisions in his letter agreement, underscoring the board’s confidence in his ability to guide the company through the transition.
Chairman Neal C. Bradsher said, “Warren and Deborah are respected leaders with deep knowledge of STAAR and our industry. The entire Board is confident in their ability to ensure business continuity and lead our Company during this period of transition.” He added that the Board is committed to working diligently to identify and appoint a new CEO.
The appointment comes amid heightened shareholder activism and the fallout from the failed Alcon merger. Broadwood Partners’ influence has reshaped the board and accelerated leadership changes, while the company’s focus remains on maintaining operational performance and protecting its independent status.
The interim co‑CEO arrangement signals stability for investors, but the company remains in a transition period. Stakeholders should monitor the ongoing CEO search and any strategic adjustments that may arise as the company navigates its post‑merger landscape.
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