Sally Beauty Holdings Announces CEO Transition
05 February 2015 - 11:20PM
Business Wire
Chris Brickman succeeds Gary Winterhalter as
Chief Executive Officer
Sally Beauty Holdings, Inc. (NYSE:SBH) (the “Company”) today
announced that President and Chief Operating Officer Chris Brickman
succeeded Gary Winterhalter as Chief Executive Officer effective on
February 1, 2015. Mr. Winterhalter will continue to serve the
company as Executive Chairman of the Board of Directors. These
changes are consistent with the Company’s previously-announced
executive transition plan.
“The Board and I are very pleased to have an outstanding
candidate such as Chris step into the CEO role,” said Robert
McMaster, Lead Independent Director of the Company’s Board. “Chris
is a passionate leader with an exceptional track record of success
throughout his career. We are confident he will add tremendous
value and drive continued growth and development for the
organization. The Board is very grateful to Gary Winterhalter for
his leadership as CEO and his commitment to the Company’s success.
We are pleased that he will continue to play a key role with the
Company.”
Mr. Winterhalter served as the Company’s CEO since its
separation from The Alberto-Culver Company in 2006. Under his
leadership, sales grew from $2.4 billion to $3.8 billion, adjusted
EBITDA more than doubled and the stock price quadrupled.
“This transition is timely as the Company is doing well and we
have a successor in place,” said Gary Winterhalter, Executive
Chairman of the Company’s Board. “Sally Beauty is well positioned
for continued growth, and I am confident that Chris and his
management team can take the Company to the next level. I am
extremely proud of our employees, and tremendously grateful to our
suppliers and customers, who all have helped make Sally Beauty
Holdings successful. I look forward to working with Chris and the
Board of Directors in my role as Executive Chairman.”
Mr. Brickman has been a member of the Sally Beauty Holdings
Board of Directors since September 2012 and has served as the
Company’s President and COO since June 2, 2014. Before joining the
Company, he was President of Kimberly-Clark International.
“I am honored to take the helm of this great Company,” said
Chris Brickman, CEO and President of Sally Beauty Holdings. “I hope
to build on the strong foundation that Gary developed during his
long career at the Company. I assure you that the Company’s
priority will remain focused on the execution of our strategic
initiatives to drive long-term shareholder value. I am very
grateful to Gary for his guidance during the recent transition
period and for his ongoing leadership role at the Company.”
About Sally Beauty Holdings, Inc.
Sally Beauty Holdings, Inc. (NYSE: SBH) is an international
specialty retailer and distributor of professional beauty supplies
with revenues of $3.8 billion annually. Through the Sally Beauty
Supply and Beauty Systems Group businesses, the Company sells and
distributes through 4,800 stores, including approximately 200
franchised units, throughout the United States, the United Kingdom,
Belgium, Chile, Peru, France, the Netherlands, Canada, Puerto Rico,
Mexico, Ireland, Spain and Germany. Sally Beauty Supply stores
offer up to 10,000 products for hair, skin, and nails through
professional lines such as Clairol, L’Oreal, Wella and Conair, as
well as an extensive selection of proprietary merchandise. Beauty
Systems Group stores, branded as CosmoProf or Armstrong McCall
stores, along with its outside sales consultants, sell up to 10,000
professionally branded products including Paul Mitchell, Wella,
Sebastian, Goldwell, Joico, and Aquage which are targeted
exclusively for professional and salon use and resale to their
customers. For more information about Sally Beauty Holdings, Inc.,
please visit sallybeautyholdings.com.
Cautionary Notice Regarding Forward-Looking
Statements
Statements in this news release and the schedules hereto which
are not purely historical facts or which depend upon future events
may be forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Words such as
“anticipate,” “believe,” “estimate,” “expect,” “intend,” “plan,”
“project,” “target,” “can,” “could,” “may,” “should,” “will,”
“would,” or similar expressions may also identify such
forward-looking statements.
Readers are cautioned not to place undue reliance on
forward-looking statements as such statements speak only as of the
date they were made. Any forward-looking statements involve risks
and uncertainties that could cause actual events or results to
differ materially from the events or results described in the
forward-looking statements.
Factors that could cause actual events or results to differ
materially from the events or results described in the
forward-looking statements can be found in our most recent Annual
Report on Form 10-K for the fiscal year ended September 30,
2014, as filed with the Securities and Exchange Commission.
Consequently, all forward-looking statements in this release are
qualified by the factors, risks and uncertainties contained
therein. We assume no obligation to publicly update or revise any
forward-looking statements.
Sally Beauty Holdings, Inc.Karen Fugate, 940-297-3877Investor
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