– USA, MN – Regis Corporation (NYSE:RGS) announced today that after successful completion of the CEO transition Dan Hanrahan has left the Company and the Board has appointed Hugh E. Sawyer to replace Mr. Hanrahan as President and CEO. Mr. Sawyer was also appointed to the Board of Directors, filling the vacancy created by Mr. Hanrahan.
David P. Williams, Regis’ Chairman of the Board, said, “Dan has been instrumental in restructuring Regis’ operations over the last four years. Under his leadership, Dan re-engineered salon support infrastructure, improved the communication and culture from the corporate office to our stylists and strengthened the company’s balance sheet. Dan has refined our vision for the future of Regis by focusing on our franchise business, which the Board believes is critical to deliver increased shareholder value. On behalf of the entire Board, I thank Dan for his contributions to the restructuring, which has positioned us for future growth.”
Mr. Hanrahan commented, “It has been a privilege to help lead the transformation at Regis. I am proud of our accomplishments and am confident Regis is well positioned to prosper in the coming years.”
Mr. Sawyer, 62, has served as President or CEO of eight companies and on numerous boards of directors over a forty-year career. He was most recently a Managing Director of Huron Consulting Group Inc., a management consulting firm, since January 2010, and was a leader of the Operational Improvement Service Line for Huron’s Business Advisory Practice. Mr. Williams stated, “The Board is delighted to have Hugh join the company. He has significant, relevant experience in driving sustainable operational improvements and strategic transformations in a broad range of industries including the service sector. He has an extensive background in businesses with large sophisticated constituents facing complex circumstances.”
Mr. Sawyer stated, “It is a privilege to join the Regis team and I look forward to building on the great work already underway. The Regis organization has a portfolio of strong brands, incredibly talented stylists and a creative group of dedicated managers and professionals. We will remain committed to serving our customers well and creating value for our shareholders.”
About Regis Corporation
Regis Corporation (NYSE:RGS) is the leader in beauty salons and cosmetology education. As of December 31, 2016, the Company owned, franchised or held ownership interests in 9,388 worldwide locations. Regis’ corporate and franchised locations operate under concepts such as Supercuts, SmartStyle, MasterCuts, Regis Salons, Sassoon Salon, Cost Cutters and First Choice Haircutters. Regis maintains ownership interests in Empire Education Group in the U.S. and the MY Style concepts in Japan.
For more information : http://www.RegisCorp.com
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