Deborah Andrews Appointed CFO at STAAR Surgical

STAAR Surgical Company has recruited a familiar face to fill its open chief financial officer (CFO) position.

The company has hired interim CFO Deborah Andrews for the third time. She previously had the job from 2005 to 2013, and again from 2017 to 2020. She’s stepped in as interim CFO in March.

“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 Surgical CEO and board member Stephen Farrell stated. “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. I look forward to working with Deborah, and I know she will serve the company well as CFO.”

Since April 2014, Andrews has been on the Board of Directors of Lineage Cell Therapeutics, a clinical stage biotechnology company focused on regenerative medicine. She currently serves as its Audit Committee chair and has previously served as its Compensation Committee chair. Andrews served in various accounting and finance leadership roles at STAAR from 1995 until her retirement in 2020. Andrews spent three years (1991-1994) as an accountant for KPMG and earned a bachelor of science degree in accounting from California State University at San Bernardino.

“I am honored to once again step into the role of CFO,” Andrews said. “STAAR is a great company with great people and great technology. I am excited to work with Steve and the leadership team to drive sustainable growth while we continue to improve our cost structure to increase shareholder value.”

Separately, STAAR has formed a new board committee—Capital Stewardship—which will be chaired by board member Lilian Y. Zhou. The board decided to establish this new committee to help guide its financial strategies, including the responsible allocation, management, and oversight of capital. Zhou has extensive experience in institutional investing and investment banking to chair this new committee.

“Capital allocation is a key focus for STAAR given our growth prospects, strong cash flow generation, and opportunities to drive long-term value from our propriety Collamer material,” Zhou noted. “STAAR is dedicated to enhancing long-term shareholder returns, and I am excited to work with Steve and Deborah to drive STAAR’s financial strategies and help build trust and credibility with investors.”

In connection with Andrews’ appointment, the establishment of the Capital Stewardship Committee, and the company’s broader effort to reduce costs, STAAR Surgical restructured its investor relations function. Hence, Brian Moore, vice president, Investor Relations and Corporate Development, has left the firm.

STAAR Surgical develops implantable phakic intraocular lenses, a vision correction solution that reduces or eliminates the need for glasses or contact lenses. Since 1982, STAAR has been dedicated solely to ophthalmic surgery, and for 30 years, STAAR has been designing, developing, manufacturing, and marketing advanced Implantable Collamer Lenses (ICLs), using its proprietary biocompatible Collamer material. STAAR ICL’s are clinically proven to deliver safe long-term vision correction without removing corneal tissue or the eye’s natural crystalline lens. Its EVO ICL product line provides visual freedom through a quick, minimally invasive procedure. STAAR has sold more than 3 million ICLs in over 75 countries. Headquartered in Lake Forest, Calif., the company operates research, development, manufacturing, and packaging facilities in California and Switzerland.