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Staar Surgical Announces New CEO

Director Farrell to replace Frinzi

Staar Surgical Co., a Lake Forest-based maker of implantable eye lenses, announced the current lead independent director, Stephen C. Farrell, as its new chief executive, replacing Tom Frinzi, effective today.

“It has been an honor to lead Staar these last two years,” Frinzi said in a statement. “We have steadily advanced the company’s clinical and commercial capabilities.”

Frinzi will remain with the company in an advisory role through next January. The company has announced plans to lay off 115 employees.

Farrell has more than 20 years as an executive of global healthcare businesses, including as CEO of Convey Health Solutions, a technology-enabled healthcare business process outsourcer that was acquired by TPG Capital in 2022.

The company also announced today that Elizabeth Yeu, M.D., who has served as a member of the board since 2021, has been elected as board chair.

Following the news, shares of Staar rose 1.9% in after-hours trading to $17.42. The company has a $1.1 billion market cap.

For more information, see the March 10 issue of the Business Journal.

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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