Sally Beauty Holdings, Inc. Announces Gary Winterhalter to Retire from Board of Directors effective February 2, 2016
DENTON, Texas--(BUSINESS WIRE)--
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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Sally Beauty Holdings, Inc.
Karen Fugate, 940-297-3877
Investor
Relations
Source: Sally Beauty Holdings, Inc.