STAAR Surgical Company (NASDAQ:STAA) shares are down on Thursday as the company is undergoing significant board changes.

Broadwood Partners Joins STAAR Surgical Board

Neal Bradsher and Richard LeBuhn of Broadwood Partners, along with Christopher Wang of Yunqi Capital, have joined STAAR's Board of Directors following a cooperation agreement.

This change also sees the departure of Chair Elizabeth Yeu and CEO Stephen Farrell, who will remain in his role until January 31, 2026.

The board's restructuring aims to enhance profitability and long-term value creation, as stated by STAAR director Louis Silverman.

Broadwood, which owns 31% of STAAR's common stock, expressed commitment to helping the company realize its full potential, emphasizing the importance of its leading technology and strong financial position.

In January, STAAR Surgical said that it did not receive the necessary stockholder votes ...