Denise Paulonis Appointed President and Chief
Executive Officer
Chris Brickman to Serve as Advisor to Support
Orderly Transition
Sally Beauty Holdings, Inc. (NYSE: SBH) (“the Company”) today
announced that Denise Paulonis will be appointed President and
Chief Executive Officer, effective October 1, 2021. Ms. Paulonis
succeeds Chris Brickman who will be stepping down. Mr. Brickman
will continue to serve as President and Chief Executive Officer of
the Company and as a member of the Board until September 30, 2021,
when he will step down from both positions. Thereafter, Mr.
Brickman will serve in a consulting capacity through March 31,
2022, to support an orderly transition. This leadership transition
is the result of the Board of Directors’ and Mr. Brickman’s
deliberate and collaborative approach to succession planning.
Ms. Paulonis has been a member of the Company’s Board of
Directors since 2018 and is the current Chair of the Audit
Committee. Most recently she served as Chief Financial Officer of
Sprouts Farmers Market. From 2014 to 2020, Ms. Paulonis served in
various executive roles at The Michaels Companies, including as
Executive Vice President and CFO, Senior Vice President of Finance
and Treasurer, and Vice President of Corporate Finance, Investor
Relations and Treasury. From 2000 to 2014, Ms. Paulonis held
various senior level positions with PepsiCo, McKinsey & Company
and Bank of America. She earned a Bachelor of Science in finance
and economics from Miami University and a Masters of Business
Administration from The Wharton School at the University of
Pennsylvania.
Robert McMaster, Chair of the Sally Beauty Holdings Board of
Directors said, “As the Company emerges from the hard work of its
transformation, both the Board and Chris agree that now is the
right time for a change in leadership. During Chris’s tenure, the
Company ushered in many new initiatives, including strengthening
Sally Beauty Holdings’ standing as the largest omni-channel hair
color retailer, introducing modernized loyalty programs, investing
significantly in technology and improving our digital capabilities,
and leading the Company through the pandemic. On behalf of the
entire Board, I want to thank Chris for his service and many
contributions to Sally Beauty Holdings over the past seven years
and, in particular, for the talented team he has put in place. We
wish him well in the next chapter of his career.”
Mr. McMaster continued, “The Board has taken a thoughtful
approach to succession planning to ensure that Sally Beauty
Holdings is best positioned to continue its momentum, and we
unanimously believe Denise is the right leader to drive the next
stage of the Company’s growth. With her experience and proven
commitment to the Company, we believe Denise will provide fresh
perspectives and valuable insights in order to take our brands and
our company into the future. The Board and I look forward to
working with Denise in her new role as we create significant value
for our customers, shareholders and employees.”
Mr. Brickman stated, “I am immensely proud of all that our team
has accomplished, and I believe the best is yet to come for Sally
Beauty Holdings. I congratulate Denise and look forward to working
with her to ensure a seamless transition. I am confident that her
leadership will inspire the team and drive the Company to future
growth and success.”
“I am both honored and excited to have been appointed as Sally
Beauty Holdings’ next Chief Executive Officer,” said Ms. Paulonis.
“As a current Board member, I know firsthand what a driven team
this is, and I could not be more excited to hit the ground running.
We have an amazing opportunity to propel the Company into its next
chapter, solidifying our place as a leading beauty provider and
moving forward as a dynamic, modern, inclusive and profitable
business. I look forward to working with Sally Beauty Holdings’
strong management team and talented employees as we execute on our
strategic priorities.”
About Sally Beauty Holdings, Inc.
Sally Beauty Holdings, Inc. (NYSE: SBH), as the leader in
professional hair color, sells and distributes professional beauty
supplies globally through its Sally Beauty Supply and Beauty
Systems Group businesses. The Company operates approximately 5,000
stores, including 141 franchised locations. Sally Beauty Supply
stores offer up to 8,000 products for hair color, hair care, skin
care, and nails through proprietary brands such as Ion®, Generic
Value Products®, Beyond the Zone® and Silk Elements® as well as
professional lines such as Wella®, Clairol®, OPI®, Conair® and Hot
Shot Tools®. Beauty Systems Group stores, branded as CosmoProf® or
Armstrong McCall® stores, along with its outside sales consultants,
sell up to 10,500 professionally branded products including Paul
Mitchell®, Wella®, Matrix®, Schwarzkopf®, Kenra®, Goldwell®, Joico®
and CHI®, intended for use in salons and for resale by salons to
retail consumers. For more information about Sally Beauty Holdings,
Inc., please visit https://www.sallybeautyholdings.com/.
Forward-Looking Statements
Statements in this news release 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. Forward-looking statements, as that term is
defined in the Private Securities Litigation Reform Act of 1995,
can be identified by the use of forward-looking terminology such as
“believes,” “projects,” “expects,” “can,” “may,” “estimates,”
“should,” “plans,” “targets,” “intends,” “could,” “will,” “would,”
“anticipates,” “potential,” “confident,” “optimistic,” or the
negative thereof, or other variations thereon, or comparable
terminology, or by discussions of strategy, objectives, estimates,
guidance, expectations and future plans. Forward-looking statements
can also be identified by the fact that these statements do not
relate strictly to historical or current matters. 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,
including, but not limited to, the risks and uncertainties related
to COVID-19 and those described in our filings with the Securities
and Exchange Commission, including our Annual Report on Form 10-K
for the year ended September 30, 2020. 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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version on businesswire.com: https://www.businesswire.com/news/home/20210901005252/en/
Jeff Harkins Investor Relations 940-297-3877
jharkins@sallybeauty.com
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