Hair-salon operator Regis Corp (RGS.N) undertook a management shakeup on Thursday, February 3, appointing current Chief Financial Officer Randy Pearce as President, to replace Chief Executive Paul Finkelstein.
Finklestein, who has spent 23 years with Regis, will remain as Chairman and CEO through 2011 and will transition to the role of Executive Chairman in 2012.
Brent Moen -- currently Vice President of Finance and Corporate Controller -- will take over from Pearce as CFO, the company said in a statement.
Regis, which operates the Vidal Sassoon and Supercuts chains, has been witnessing sluggish sales as shoppers spend less on hair cuts and personal grooming amid an uncertain economic environment.
Shares of the Minneapolis-based company closed at $17.06 on Thursday on the New York Stock Exchange.
Please follow me on Twitter at: http://Twitter.com/HairBoutique. I look forward to meeting new people from all walks of Twitter and learning from their Tweets. Visit us at Hairboutique.com located at: http://www.HairBoutique.com, on Facebook, MySpace and YouTube.
Thank you for visiting us at The HairBoutique Blog and for leaving your comments. They are very much appreciated. We apologize in advance but must remove any direct advertisements or solicitations.