MONROVIA, Calif., Aug. 17 STAAR Surgical Company (Nasdaq: STAA), a leading developer, manufacturer and marketer of minimally invasive ophthalmic products, today announced that it has made two key additions to its executive management team. Donald J. Todd, (57), was named to the position of President of Asia/Pacific. William W. Goodmen, (56), was appointed to the newly-created position of Global Vice President of Human Resources. The two executives will play key roles in executing STAAR's new five year growth strategy which was presented to the Board of Directors on Monday August 16, 2010.
"STAAR's reemergence as a growing leader in the ophthalmic marketplace has enabled us to attract two experienced executives to play key roles in the successful execution of our strategy to achieve sustainable profitable growth in our core technologies, ICLs and IOLs," said Barry G. Caldwell, President and CEO. "Don is a 30-year veteran in medical device general management with a focus on sales and marketing. He has a strong track record of successfully directing the sales and marketing efforts of medical devices in Japan and Asia, including building distributor relationships in these important markets, and he speaks Japanese, which will be invaluable in overseeing our STAAR Japan operations. Bill has 20 years of experience in all aspects of managing and developing human resources in both large corporations operating internationally, as well as growth companies. He is a strong strategic thinker as well as a detailed hands-on manager with solid international experience. We welcome Bill and Don to our management team and look forward to their contributions in driving STAAR forward with its plans to achieve continued revenue growth and enhanced profitability."
Don Todd most recently served as global vice president, marketing for VNUS Medical Technologies, a division of Covidien Company specializing in the RF treatment for venous insufficiency. Prior to VNUS, he was senior vice president, marketing for Iridex Corp., an ophthalmic and aesthetic laser company, for three years. His background includes senior level sales and marketing positions for leading companies in the cardiovascular and ophthalmic medical device industries, including CooperVision/Alcon, Iolab, Sorin Group, Venetec International and Terumo Medical. He has broad experience directing sales and marketing functions worldwide, with a particular concentration in Asian markets. Don graduated from Colorado State University with a B.A. in business administration.
Bill Goodmen joined STAAR from Neovia Integrated Insurance Services, a healthcare brokerage firm, where he served as Vice President, Business Development. Prior to that, he spent seven years at THQ, Inc., a developer of interactive entertainment software, most recently as Executive Vice President, Human Resources and Administration, where he was responsible for the entire spectrum of Human Resources and general administrative functions worldwide during a period when the company grew from $400 million in sales to $1.2 billion and employees grew from 600 to 2,500. Additional experience included senior level positions in Human Resources with Liberty Livewire and in executive search with Spencer Stuart. He began his career in Human Resources at Atlantic Richfield Co., a Fortune 50 energy company with $20 billion in revenues, where he spent 18 years. Mr. Goodmen has a B.A. degree from Colgate University and an M.S. degree from Syracuse University.
The Company also announced today that David Bailey, former President and CEO, will continue to work with the Company during a transition period. His obligations to perform any duties as an employee will cease on August 27, 2010.
"David has provided ten years of strong leadership to STAAR," added Mr. Caldwell. "His service to the Company has played a key role in our recent growth and profitability achievements. There are many key contributions David made over the years, but maybe none more important to our future than the successful acquisition of the joint venture in Japan from Canon in late 2007. On behalf of our Board of Directors and employees, I would like to thank David for his many contributions and leadership over those ten years. We wish him well in his new endeavors."
About STAAR Surgical
STAAR, which has been dedicated solely to ophthalmic surgery for over 25 years, designs, develops, manufactures and markets implantable lenses for the eye. All of these lenses are foldable, which permits the surgeon to insert them through a small incision. A lens used to replace the natural lens after cataract surgery is called an intraocular lens or "IOL." A lens used in refractive surgery as an alternative to LASIK is called an Implantable CollamerŪ Lens or "ICL." Over 150,000 Visian ICLs have been implanted to date; to learn more about the ICL go to: www.visianinfo.com. STAAR has approximately 300 full time employees and markets lenses in approximately 50 countries. Headquartered in Monrovia, CA, it manufactures in the following locations: Nidau, Switzerland; Ichikawa City, Japan; Aliso Viejo, CA; and Monrovia, CA. For more information, please visit the Company's website at: www.staar.com or call 626-303-7902.
CollamerŪ is the registered trademark for STAAR's proprietary biocompatible collagen copolymer lens material.
All statements in this press release that are not statements of historical fact are forward-looking statements, including any statements about STAAR's growth strategy and expectations for revenue or profitability, and any statements of assumptions underlying any of the foregoing.
These statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. The risks and uncertainties include the following: the negative effect of the global recession on sales of products, especially products such as the ICL used in non-reimbursed elective procedures; the challenge of managing our foreign subsidiaries; the willingness of surgeons and patients to adopt a new product and procedure; the entrenched market position of laser-based procedures for many conditions treated by the Visian ICL, patterns of Visian ICL use that have typically limited our penetration of the refractive surgery market, and the potential effect of recent negative publicity about LASIK on the demand for refractive surgery in general in the U.S. STAAR assumes no obligation to update its forward-looking statements to reflect future events or actual outcomes and does not intend to do so.
CONTACT: Investors Media EVC Group EVC Group Jenifer Kirtland/Doug Sherk Christopher Gale 415-896-6820 646-201-5431
SOURCE STAAR Surgical Company