Last week, Staar announced the retirement of CEO Caren Mason, who held the role since 2015. The company named Thomas Frinzi, its current board chair, as her replacement.
According to BTIG analysts Ryan Zimmerman and Sam Durno, Staar provided little clarity over the reason behind the leadership change. They wrote in a report that management claimed the move “had been in the works for some time.” However, they asked why, with the change in the works, Staar elected to not reiterate its fiscal 2023 guidance of $355 million.
“If new CEO Tom Frinzi had been involved in STAA’s 3-year strategic plan (FY22 – FY25) as indicated, surely he would be comfortable with FY23 guidance,” they wrote. “We think the next step is a FY23 guidanc…