STEPHEN FARRELL
CEO
STAAR SURGICAL
WHY: Replaced Tom Frinzi as CEO of the Lake Forest maker of implantable lenses in February. Spent nine years on the board, including two as lead independent director. Served CEO, president and a director at three publicly traded companies when they were acquired.
IN THE NEWS: Getting acquired by Switzerland-based Alcon Inc. for $1.5B. Transaction is expected to close in the next three to nine months. Shares soared 45% in response to the news. Stock holder meeting to vote on the merger postponed to Dec. 3 as largest shareholder objects to deal.
NOTABLE: Recently faced lower demand for its IOLS in China, by far Staar’s largest market, due to macroeconomic conditions and weak consumer confidence. Facing weak demand in China, cut its workforce by 10%, or about 115 employees.
QUOTABLE: “Although the last few years have been challenging for our business and investors, we are well positioned to deliver strong returns as the refractive surgery market stabilizes and resumes its historic growth.”
