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Monrovia, Calif.-based STAAR Surgical Company (NASDAQ: STAA ) has a new CFO today.
On Monday, STAAR announced it has hired Stephen P. Brown away from Bausch & Lomb Surgical to become its new chief financial officer. Brown replaces current CFO Deborah Andrews, who is stepping down one rung to become chief accounting officer.
As the company explained in a statement: "As we complete the consolidation of our manufacturing facilities, and look forward to our opportunities for growth, it is the right time to add to the strength of our financial management team."
Brown brings to STAAR 19 years of financial management leadership experience in the medical device and pharmaceutical industries, having been CFO at Hoya Surgical Optics and at Johnson & Johnson's Advanced Sterilization Products division prior to joining Bausch & Lomb -- and having served as vice president for global finance there for the past five years.
In a filing with the SEC, STAAR disclosed that it will be paying Brown an annual base salary of $300,000 plus an annual bonus of up to 40% of base salary and 50,000 stock options.