Sally Beauty Holdings, Inc. (NYSE: SBH) (the “Company”) today
announced that Gary G. Winterhalter has notified the Board that he
intends to retire from the Corporation and the Board. Mr.
Winterhalter’s retirement will be effective on the date of the
Company’s next annual meeting of stockholders, February 2, 2016. A
new Chairman will be elected at that time.
“In terms of timing, I feel good about where SBH is today and I
feel confident in the future success of the Company,” said Gary
Winterhalter. “It has been a privilege to lead one of the largest
professional beauty companies in the world alongside some of the
best professionals in the business. After more than twenty-eight
years with the Company it’s time to turn it over to a new
generation of leaders.”
Mr. Winterhalter has served on the Board of Directors since
November 2006, as Executive Chairman since August 2012. He served
as the Chief Executive Officer of Sally Beauty Holdings, Inc., from
the separation from Alberto-Culver in October 2006 to February
2015. Prior to the separation from Alberto-Culver, Mr. Winterhalter
held positions of increasing responsibility including President of
Sally Beauty Holdings, Inc. and President of Sally Beauty Supply
and BSG North America.
“A great deal of our Company’s success can be attributed to
Gary’s passion for the business and his leadership,” said Chris
Brickman, President and CEO. “Over his long career at Sally Beauty
Holdings, the Company has grown from just under a hundred stores in
the U.S. to approximately 5,000 stores around the globe. I am
grateful for his contributions as Chairman of the Board and wish
him the very best in his retirement.”
Commenting on Mr. Winterhalter’s retirement, the Company’s lead
independent director Bob McMaster said, “I want to thank Gary for
his leadership and dedication through his many years of service to
Sally Beauty Holdings. He has done an exceptional job positioning
the Company to become a leading professional beauty distributor.
Personally, it has been a rewarding experience to have had the
opportunity to work with Gary over these years. I have great
confidence that together with our Board of Directors, our
leadership team and employees, we will continue our successful
growth into the future as a global retailer.”
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 4,900 stores, including approximately 200
franchised units, throughout the United States, the United Kingdom,
Belgium, Chile, Colombia, 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, including, but not limited to, risks
and uncertainties related to: the highly competitive nature of, and
the increasing consolidation of, the beauty products distribution
industry; anticipating and effectively responding to changes in
consumer preferences and buying trends in a timely manner;
potential fluctuation in our same store sales and quarterly
financial performance; our dependence upon manufacturers who may be
unwilling or unable to continue to supply products to us; the
possibility of material interruptions in the supply of products by
our third-party manufacturers or distributors or increases in the
prices of products we purchase from our third-party manufacturers
or distributors; products sold by us being found to be defective in
labeling or content; compliance with current laws and regulations
or becoming subject to additional or more stringent laws and
regulations; the success of our strategic initiatives including our
store refresh program and increased marketing efforts, to enhance
the customer experience, attract new customers, drive brand
awareness and improve customer loyalty; the success of our
e-commerce businesses; product diversion to mass retailers or other
unauthorized resellers; the operational and financial performance
of our franchise-based business; successfully identifying
acquisition candidates and successfully completing desirable
acquisitions; integrating acquired businesses; the success of our
existing stores, and our ability to increase sales at our existing
stores; opening and operating new stores profitably; the volume of
traffic to our stores; the impact of the health of the economy upon
our business; the success of our cost control plans; rising labor
and rental costs; protecting our intellectual property rights,
particularly our trademarks; the risk that our products may
infringe on the intellectual property of others or that we may be
required to defend our intellectual property rights; conducting
business outside the United States; successfully updating and
integrating our information technology systems; disruption in our
information technology systems; a significant data security breach,
including misappropriation of our customers’, or employees’ or
suppliers’ confidential information, and the potential costs
related thereto; the negative impact on our reputation and loss of
confidence of our customers, suppliers and others arising from a
significant data security breach; the costs and diversion of
management attention required to investigate and remediate a data
security breach and to continuously upgrade our information
technology security systems to address evolving cyber security
threats; the ultimate determination of the extent or scope of the
potential liabilities relating to our past data security incidents;
our ability to attract or retain highly skilled management and
other personnel; severe weather, natural disasters or acts of
violence or terrorism; the preparedness of our accounting and other
management systems to meet financial reporting and other
requirements and the upgrade of our existing financial reporting
system; being a holding company, with no operations of our own, and
depending on our subsidiaries for cash; our ability to execute and
implement our common stock repurchase program; our substantial
indebtedness; the possibility that we may incur substantial
additional debt, including secured debt, in the future;
restrictions and limitations in the agreements and instruments
governing our debt; generating the significant amount of cash
needed to service all of our debt and refinancing all or a portion
of our indebtedness or obtaining additional financing; changes in
interest rates increasing the cost of servicing our debt; the
potential impact on us if the financial institutions we deal with
become impaired; and the costs and effects of litigation.
Additional 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 filings with the
Securities and Exchange Commission, including our most recent
Annual Report on Form 10-K for the 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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version on businesswire.com: http://www.businesswire.com/news/home/20151102006416/en/
Sally Beauty Holdings, Inc.Karen Fugate,
940-297-3877Investor Relations
Sally Beauty (NYSE:SBH)
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