Sally Beauty names new chair, other board changes
Sally Beauty Holdings, Inc. announced on Thursday that Robert McMaster is retiring as a director and will step down as chair of the board.
As a result, Diana Ferguson, current independent director, has been tapped by the board as its chair-elect. The move is effective January 26, 2023, at the conclusion of the Denton, Texas-based company’s annual meeting of shareholders.
Ferguson has been a director at the company since 2019 and currently serves as chair of the compensation and talent committee. Her experience is backed by success in corporate financial management, strategic planning and transaction execution.
Since 2013, she has served as a principal of Scarlett Investments, LLC, a private investment firm. She also served as chief financial officer to Cleveland Avenue, LLC, a venture capital investment firm, from 2015 to 2020, among other positions.
“I am honored to be chair elect to the board and I thank Bob for his leadership,” said Ferguson. “I believe strongly in our mission and people, and I am confident Sally Beauty Holdings has the right team and strategy in place to continue executing on our strategic plan and delivering value for all our stakeholders. I look forward to this opportunity and to continuing to work with my fellow directors and the company’s management team to position Sally Beauty for long-term success.”
Moreover, Ed Rabin, Marshall Eisenberg and John Miller have announced their upcoming retirements from the board and will not be standing for re-election. These retirements follow the appointment of Rachel Bishop, Jeffrey Boyer and Chip Molloy to the board in July 2022.
“On behalf of our board, executive management team and all Sally Beauty Holdings associates, I would like to thank Bob, Ed, Marshall and John for their significant contributions to the company’s growth over the past 16 years,” said Denise Paulonis, president and chief executive officer.
“Together, they have been instrumental in helping to grow Sally into a global international omnichannel retailer that is beloved by our community of DIY beauty enthusiasts and professional stylists. Over the past year, Diana has contributed meaningfully to the establishment of the company’s future-focused strategic pillars with her insights, commitment, financial expertise and board experience. She is an outstanding choice to lead our board, and I look forward to working with Diana in her new capacity.”
Sally Beauty Supply stores offer up to 7,000 products for hair color, hair care, nails, and skin care 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 L’Oreal.
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