Industry News

Sally Beauty Holdings, Inc. Announces CEO Succession Plan

Anne Moratto | May 2, 2014 | 2:10 PM

Following the completion of its succession planning process, the Sally Beauty Holdings, Inc. Board approved the appointment of Christian A. Brickman as the Company's new President and Chief Operating Officer effective June 2, 2014. At the request of the Board, Gary Winterhalter, the Company's current Chairman, Chief Executive Officer and President will continue his management of the Company in his current roles as the Company's Chairman of the Board and Chief Executive Officer through April 30, 2015 or such earlier date as the Board may determine, and will work with the Board and Mr. Brickman to facilitate a transition of his duties and responsibilities as Chief Executive Officer to Mr. Brickman during this period. Upon the successful transition of the role of Chief Executive Officer, Mr. Winterhalter has agreed to continue serving at the discretion of the Board as Executive Chairman of the Board through January 2018 performing such duties as are customary for that position and as are requested by the Chief Executive Officer or the Board. Mr. Brickman will continue to serve as a member of the Board.

Chris Brickman, age 49, has been a member of the Company's Board of Directors since September 2012. He most recently served as President of Kimberly-Clark International, which is the primary international division of Kimberly-Clark Corporation, a role he held from May 2012 to February 2014. In this capacity, Mr. Brickman led Kimberly-Clark's international consumer business in all operations outside of North America. Prior to being appointed to this role, Mr. Brickman served as President of Kimberly-Clark Professional from August 2010 to May 2012. Mr. Brickman joined Kimberly- Clark in 2008 as Chief Strategy Officer and played a key role in the development and implementation of the company's strategic plans and processes to enhance Kimberly-Clark's enterprise growth initiatives. Prior to joining Kimberly- Clark, Mr. Brickman was a Principal in McKinsey & Company's Dallas, Texas, office and a leader in the firm's consumer packaged goods and operations practices. Before joining McKinsey, Mr. Brickman was President and CEO of Whitlock Packaging (1998-2001), the largest non-carbonated beverage co-packing company in the United States.

"The Board, working with Gary, has given careful thought to succession planning and is confident that Chris is a great fit for Sally Beauty Holdings, Inc.," said Robert McMaster, the Company's Lead Independent Director. "Gary has done a superb job building this Company and we are pleased that he will continue to play a significant role with SBH, initially as CEO and later as Executive Chairman. We believe Chris' knowledge of Sally as a board member and his proven record of driving international growth and success in leading profitability initiatives represent a great combination of capabilities from which to lead the Company into its next phase."

"I am proud of the accomplishments we have made during my 27 years at Sally Beauty Holdings, Inc. and remain confident that the Company is well-positioned for growth both domestically and internationally," said Gary Winterhalter, the Company's Chairman, President & Chief Executive Officer. "Chris brings significant and broad leadership experience to the Company, and I am certain that his unique blend of management, international and strategic expertise will help us deliver on our future growth goals."

"I greatly admire what Gary Winterhalter and the Sally Beauty Holdings, Inc. team have achieved. I am honored that Gary and the Board have entrusted me with this role and to be joining such an incredibly accomplished group of professionals," said Chris Brickman. "More importantly, SBH has tremendous global opportunities ahead and I look forward to working closely with the executive management team and with all of the Company's employees and suppliers to build on the solid growth strategy in place and further enhance opportunities for employees, the quality and value delivered to customers, and, as a result, the returns achieved for stockholders."

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