MINNEAPOLIS - April 26, 2017 - (BUSINESS WIRE) - Regis Corporation (NYSE:RGS), a leader in the haircare industry, announced today the appointment of Eric Bakken to the role of President of Franchise, effective immediately. In this role, Mr. Bakken will oversee development, support and operational performance of Regis’ franchise business.
“Eric’s promotion represents another step forward in our strategic commitment to the continued growth of our franchise operations. He is uniquely qualified to lead our franchise business and I am delighted that he has accepted this important new leadership role,” said Hugh Sawyer, President and CEO of Regis Corporation. “Eric’s extensive knowledge of the beauty industry, franchise operations and the capabilities required to deliver an exceptional guest experience will be essential as we thoughtfully expand our franchise footprint in the U.S. and beyond. I look forward to partnering with Eric in the years ahead as we also accelerate our focus on the growth and improvement of our company owned salons.”
Mr. Bakken joined Regis Corporation in 1994 and currently serves as Executive Vice President, Chief Administrative Officer and General Counsel. In his 23-year tenure with the company, Mr. Bakken has overseen franchising, mergers and acquisitions, internal audit, legal, real estate and construction, among other functions.
“I am honored to assume this new role at such an exciting time in the evolution of our company,” said Bakken. “I look forward to building upon the exceptional work of our franchisees and the Regis franchise support team in order to maximize this opportunity for our stakeholders.”
Regis Corporation (NYSE:RGS) is the leader in beauty salons and cosmetology education. As of December 31, 2016, the Company owned, franchised or held ownership interests in 9,388 worldwide locations. Regis’ corporate and franchised locations operate under concepts such as Supercuts, SmartStyle, MasterCuts, Regis Salons, Sassoon Salon, Cost Cutters and First Choice Haircutters. Regis maintains ownership interests in Empire Education Group in the U.S. and the MY Style concepts in Japan. For additional information about the Company, including a reconciliation of certain non-GAAP financial information and certain supplemental financial information, please visit the Investor Information section of the corporate website at www.regiscorp.com. To join Regis Corporation’s email alert list, click on this link: [http://www.b2i.us/irpass.asp?BzID=913&to=ea&Nav=1&S=0&L=1].
This press release may contain “forward-looking statements” within the meaning of the federal securities laws, including statements concerning anticipated future events and expectations that are not historical facts. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements in this document reflect management’s best judgment at the time they are made, but all such statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those expressed in or implied by the statements herein. Such forward-looking statements are often identified herein by use of words including, but not limited to, “may,” “believe,” “project,” “forecast,” “expect,” “estimate,” “anticipate,” and “plan.” In addition, the following factors could affect the Company’s actual results and cause such results to differ materially from those expressed in forward-looking statements. These factors include the continued ability of the Company to evolve and execute our strategy and build on the foundational initiatives that we have implemented; the success of our stylists and our ability to attract, train and retain talented stylists; our ability to sell company-owned salons to franchisees; performance of our franchisees; changes in regulatory and statutory laws; our ability to manage cyber threats and protect the security of sensitive information about our guests, employees, vendors or Company information; changes in tax exposure; the effect of changes to healthcare laws; reliance on management information systems; financial performance of Empire Education Group; reliance on external vendors; consumer shopping trends and changes in manufacturer distribution channels; competition within the personal hair care industry; changes in interest rates and foreign currency exchange rates; failure to standardize operating processes across brands; the ability of the Company to maintain satisfactory relationships with certain companies and suppliers; the continued ability of the Company to implement cost reduction initiatives; compliance with debt covenants; changes in economic conditions; changes in consumer tastes and fashion trends; or other factors not listed above. Additional information concerning potential factors that could affect future financial results is set forth in the Company’s Annual Report on Form 10-K for the year ended June 30, 2016. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. However, your attention is directed to any further disclosures made in our subsequent annual and periodic reports filed or furnished with the SEC on Forms 10-K, 10-Q and 8-K and Proxy Statements on Schedule 14A.
SVP, Finance and Investor Relations
SOURCE Regis Corporation