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.
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