Staar Surgical names Warren Foust COO

Staar Surgical (STAA) announced the following changes to right size and realign its leadership structure to better address market needs: Warren Foust, Chief Operating Officer, has been promoted to the newly created role of President and Chief Operating Officer. In this expanded role, Mr. Foust will continue to oversee STAAR’s sales, manufacturing, and operations functions. Under this new leadership structure, the Company’s Chief Development Officer, Chief Marketing Officer, and Chief Medical Officer will also report to Mr. Foust. Magda Michna, PhD, Chief Clinical, Regulatory and Medical Affairs Officer, has been promoted to the newly created role of Chief Development Officer. In this expanded role, Dr. Michna will continue to oversee STAAR’s clinical, regulatory, and medical affairs functions, and will assume additional responsibility for the Company’s quality and research and development functions. In connection with Dr. Michna’s promotion, Keith Holliday, PhD, who had served as Chief Technology Officer and head of R&D, is leaving the Company. Deborah Andrews, who retired from STAAR in 2020 and previously served as STAAR’s Chief Financial Officer from 2007-2013 and 2017-2020, has been appointed to the role of Interim CFO, effective immediately. STAAR’s Board of Directors will be initiating a search for a permanent CFO. Patrick F. Williams, who joined STAAR as CFO in 2020, is stepping down effective immediately, and he has agreed to a three-month consulting agreement to assist with the transition of responsibilities. Mr. Williams’ departure is part of the Company’s overall leadership realignment and is not related to any disagreement regarding financial reporting or internal controls. “When I stepped into the CEO role a few weeks ago, I began the process of aligning and streamlining our organizational structure and management team to drive revenue growth, improve our cost structure, and better position the business to increase shareholder value. This new leadership structure is the first step in that process,” said the Company’s CEO, Steve Farrell. “Warren has demonstrated strong leadership and deep knowledge of both our Company and industry. He is well respected in the ophthalmic community and within STAAR, and I am excited to partner with him as we bring additional discipline and structure to our growth initiatives.”