(October 27, 2011) - Regis Corporation (NYSE:RGS), the global leader in the $160 billion hair care industry, today announced that its newly constituted Board of Directors has appointed Randy L. Pearce, currently President of Regis, to the Board of Directors, effective immediately. The addition of Mr. Pearce will expand the Regis Board to eight directors. As previously announced, Mr. Pearce will succeed Paul D. Finkelstein as Chief Executive Officer in February 2012.
"We welcome Randy to the Regis Board of Directors," said Paul D. Finkelstein, Chairman and Chief Executive Officer. "Randy has been an integral part of the Company since he joined Regis over 25 years ago. We look forward to benefiting from his insights, leadership and experience gleaned throughout his career as Regis implements important revenue and cost initiatives to increase shareholder value."
Mr. Pearce, age 56, joined Regis Corporation in 1985 after serving four years with the international public accounting firm of Coopers & Lybrand, and has moved through a variety of finance positions at Regis.
Mr. Pearce holds a Bachelor of Arts degree in Accounting from the University of Northern Iowa. He is a graduate of the University of Minnesota's Carlson School Executive Management program. He is a CPA and an active member of the American Institute of Certified Public Accountants, the Financial Executives Institute (FEI) and the International Council of Shopping Centers (ICSC). He also serves on the board of Ascena Retail Group (Nasdaq:ASNA) as well as the Boy Scouts of America.
Regis Corporation (NYSE:RGS) is the beauty industry's global leader in beauty salons, hair restoration centers and cosmetology education. As of September 30, 2011, the Company owned, franchised or held ownership interests in approximately 12,800 worldwide locations. Regis' corporate and franchised locations operate under concepts such as Supercuts, Sassoon Salon, Regis Salons, MasterCuts, SmartStyle, Cost Cutters, Cool Cuts 4 Kids and Hair Club for Men and Women. In addition, Regis maintains an ownership interest in Provalliance, which operates salons primarily in Europe, under the brands of Jean Louis David, Franck Provost and Saint Algue. Regis also maintains ownership interests in Empire Education Group in the U.S. and the MY Style concepts in Japan. System-wide, these and other concepts are located in the U.S. and in over 30 other countries in North America, South America, Europe, Africa and Asia. For additional information about the company, please visit the Investor Information section of the corporate website at www.regiscorp.com.
Mark Fosland, 952-806-1707
Vice President, Finance
Andy Larew, 952-806-1425
Director, Finance-Investor Relations
Joele Frank, Wilkinson Brimmer Katcher
Joele Frank / Kelly Sullivan / Annabelle Rinehart