Staar Surgical Co. today announced its appointment of Deborah Andrews as chief financial officer, effective immediately.
Andrews has been interim CFO since March and previously served as Staar’s CFO from 2007 to 2013 and 2017 to 2020.
“Deborah has blended seamlessly with the leadership team, and we quickly realized that her deep knowledge of STAAR and her skills, abilities, and approach made her the perfect choice to be STAAR’s next CFO,” Staar Chief Executive Stephen Farrell said in a statement.
Separately, the Lake Forest eye lens maker announced the formation of a new committee within its board of directors to help guide the company’s financial strategies.
These two changes are part of Starr’s restructuring efforts to reduce its selling, general and administrative costs down to $225 million, including the departure of Brian Moore as vice president of investor relations and corporate development, effective June 27.
“In the last few months, Deborah has already driven greater financial and operating rigor across the organization, and, as a result, we are on track to achieve our targeted $225 million annual SG&A run rate ahead of schedule,” Farrell said.
Shares in Staar fell 1.6% to $16.90 and an $837 million market cap (Nasdaq: STAA).