Published by Global Banking & Finance Review®
Posted on January 15, 2026
1 min readLast updated: January 19, 2026
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Staar Surgical's CEO Stephen Farrell resigns as part of a settlement with Broadwood Partners, affecting leadership and shareholder relations.
Jan 15 (Reuters) - Staar Surgical said on Thursday its CEO Stephen Farrell will step down by the end of the month as part of the medtech company's settlement deal with Broadwood Partners, its biggest shareholder.
The company said Farrell and Chair Elizabeth Yu have also stepped down from the board.
Staar Surgical shares up 1% to $22 in premarket trading.
Broadwood founder Neal Brasher and the investment firm's executive vice president, Richard LeBuhn, have joined Staar's board.
The company said it plans to make announcements regarding Staar's next chair and CEO in the near term.
Earlier this month, STAAR terminated a merger agreement with Swiss eyecare giant Alcon after failing to secure enough shareholder votes to approve the deal.
Alcon had last month made a new offer worth $1.6 billion for Staar, up from its original offer of $1.5 billion.
Broadwood Partners, Staar's biggest shareholder with nearly 30.2% stake, had actively opposed Alcon's initial offer, saying it undervalues the business and reflects a flawed sale process.
(Reporting by Gnaneshwar Rajan in Bengaluru)
A merger agreement is a legal document that outlines the terms and conditions under which two companies agree to combine their operations into a single entity.
Corporate governance refers to the systems, principles, and processes by which a company is directed and controlled. It encompasses the relationships among the company's management, board, shareholders, and other stakeholders.
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