Sally Beauty (SBH) Elects Gary Winterhalter as Chairman; Names Other Board Appointees
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Sally Beauty Holdings, Inc. (NYSE: SBH) announced the retirement of three members of the board of directors of Sally Beauty Holdings, Inc., James G. Berges, Kenneth A. Giuriceo and Richard J. Schnall.
Messrs. Berges, Giuriceo and Schnall are affiliated with Clayton, Dubilier & Rice, LLC, (CD&R), the Company’s former private equity partner, and have retired as members of the Board in connection with the successful exit of CD&R’s investment in Sally Beauty Holdings.
The Board elected Gary G. Winterhalter to replace Mr. Berges as the Chairman of the Board. Mr. Winterhalter will continue to serve as the Company’s President and CEO. The Corporation also appointed Robert McMaster to the newly created position of Lead Independent Director of the Board. Mr. McMaster, who joined the Board in 2006, will continue to serve as Chairman of the Board’s Audit Committee. The Nominating and Corporate Governance Committee of the Board is actively considering candidates to fill the one vacancy on the Company's Board of Directors resulting from the retirement of Messrs. Berges, Giuriceo and Schnall and the subsequent reduction of the size of the Board to nine members.
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Messrs. Berges, Giuriceo and Schnall are affiliated with Clayton, Dubilier & Rice, LLC, (CD&R), the Company’s former private equity partner, and have retired as members of the Board in connection with the successful exit of CD&R’s investment in Sally Beauty Holdings.
The Board elected Gary G. Winterhalter to replace Mr. Berges as the Chairman of the Board. Mr. Winterhalter will continue to serve as the Company’s President and CEO. The Corporation also appointed Robert McMaster to the newly created position of Lead Independent Director of the Board. Mr. McMaster, who joined the Board in 2006, will continue to serve as Chairman of the Board’s Audit Committee. The Nominating and Corporate Governance Committee of the Board is actively considering candidates to fill the one vacancy on the Company's Board of Directors resulting from the retirement of Messrs. Berges, Giuriceo and Schnall and the subsequent reduction of the size of the Board to nine members.
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