Sally Beauty names new president and CEO
Denton, Texas-based professional hair and beauty supply company Sally Beauty Holdings, Inc. named on Wednesday Denise Paulonis as president and chief executive officer.
Effective October 1, 2021, Paulonis will succeed Chris Brickman who will be stepping down from his role after seven years at the company and as a member of the board. He will serve in a consulting capacity through March 31, 2022, to support the transition.
Brickman was credited for ushering in many new initiatives, by Robert McMaster, chair of the Sally Beauty Holdings board of directors, including strengthening Sally Beauty Holdings’ standing as the largest omni-channel hair color retailer, introducing modernized loyalty programs, and improving digital capabilities.
Most recently, Paulonis served as chief financial officer of Sprouts Farmers Market. From 2014 to 2020, she served in various executive roles at The Michaels Companies, including as executive VP and CFO, senior VP of finance and Treasurer, and VP of corporate finance, investor relations and treasury.
Prior to that, she held various senior level positions with PepsiCo, McKinsey & Company and Bank of America. Paulonis has been a member of the company’s board of directors since 2018 and is the current chair of the audit committee.
“The Board has taken a thoughtful approach to succession planning to ensure that Sally Beauty Holdings is best positioned to continue its momentum, and we unanimously believe Denise is the right leader to drive the next stage of the company’s growth. With her experience and proven commitment to the company, we believe Denise will provide fresh perspectives and valuable insights in order to take our brands and our company into the future,” said McMaster.
Earlier this summer, Sally Beauty reported total Q3 sales of $1.02 billion, an increase of 45 percent compared to $705.3 million in the prior-year period.
Year to date, Sally Beauty’s sales totaled $2.88 billion, up 12.8 percent from $2.56 billion in the same period in the previous year, while net earnings came to $171.7 million, or $1.50 per diluted share, increasing from $43.06 million, or $0.37 per diluted share.
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