Warren Foust has been appointed as the permanent chief executive officer of STAAR Surgical, marking the end of a leadership transition that began after the collapse of a major takeover bid. The implantable eye lens company announced the move on Tuesday, ending the uncertainty that followed shareholders’ rejection of Alcon’s $1.6 billion offer in January.
Leadership changes follow failed acquisition
Previous CEO Stephen Farrell stepped down in the wake of the failed Alcon deal. STAAR chair Elizabeth Yeu also left the company at that time. The board quickly moved to fill the vacancy, appointing Foust and Deborah Andrews as interim co-CEOs in February. Foust agreed to serve in that dual role until a permanent successor was found, with the interim arrangement set to last until either Aug. 1 or the appointment of a new leader.
On Tuesday, STAAR confirmed that Foust will now serve as the sole CEO. Andrews will return to her previous role as CFO, adding the title of executive vice president to her responsibilities. Foust joined the company in 2023 as chief operating officer and became president in 2025. He will retain both the CEO and president titles in his new position.
The search for a permanent leader was conducted by a five-person committee. The group included executives from investment funds that had opposed the Alcon transaction. The board conducted a “rigorous global search” of both internal and external candidates. According to Neal Bradsher, who serves as board chair, the group determined that Foust was the “right leader to take STAAR forward.”
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Looking ahead at business performance
Foust brings significant experience to the role, having previously worked at Johnson & Johnson. Andrews, who retired in 2020, rejoined the company last year to serve as CFO. The newly appointed CEO will now lead an organization that posted record net sales of $93.5 million during the first quarter of 2025.
Those challenges included “significant disruption stemming from the potential Alcon merger process, raised channel inventory in our largest market and risks of rising tariffs.” Foust addressed these issues during an earnings call in May. He noted that the company had largely moved past those obstacles by the close of the first quarter. STAAR is scheduled to report second-quarter results next week.
Despite the turmoil of the past year, Foust described the first half of the year as the company’s strongest ever. The stability of the new leadership structure comes at a critical time as the business prepares to release its upcoming financial report. The transition ensures continuity as STAAR focuses on its core operations in the implantable lens market. AI-assisted surgery represents a growing area of technological advancement in the medical field.
