Boardroom Battle Erupts at Staar Surgical Ahead of Crucial Vote

Staar Surgical US8523123052

A dramatic power struggle is unfolding at ophthalmic device maker Staar Surgical, casting severe doubt over its pending acquisition by industry giant Alcon. The company’s largest shareholder, activist investor Broadwood Partners, has launched a direct assault on the leadership team by demanding a special meeting to oust three key directors.

Broadwood Partners, which controls a significant 30.2% stake in Staar Surgical, is seeking the immediate removal of Board Chair Elizabeth Yeu, Chief Executive Stephen Farrell, and Compensation Committee Chair Arthur Butcher. The investor has sharply criticized the company’s strategic direction, labeling the sales process as “flawed” and arguing that the proposed transaction with Alcon severely undervalues the business.