By Ben Fox Rubin
Regis Corp. (RGS) named Steven M. Spiegel as its new chief
financial officer, replacing Brent Moen, who was named to the
position last year.
Regis, the parent of haircut chains such as Supercuts, has
struggled in recent quarters as many budget-conscious customers
have lengthened time between visits.
Spiegel, whose appointment is effective Dec. 3, most recently
served as vice president of finance and corporate controller at
Unilever N.V. (UN, UNA.AE) and, previously, as a vice president of
commercial finance at Alberto Culver, a hair-care business
purchased by Unilever.
"I have the highest confidence that his extensive financial
knowledge and experience will deliver significant contributions
toward our objectives of improving the salon experience for our
guests, simplifying our operating model, effectively leveraging our
scale and enhancing value for our shareholders," Regis Chief
Executive Dan Hanrahan said.
Moen previously served as corporate controller from 2006 to
2011, vice president of finance from 2002 to 2006 and director of
finance from 2000 to 2002. Moen will remain with Regis through Jan.
4 to aid in the transition, Regis said.
Last month, the company said its fiscal first-quarter earnings
surged on gains related to the sale of its stake in Provalliance,
masking weaker sales.
Shares closed Wednesday at $16.72 and were inactive premarket.
The stock is up 1% so far this year.
Write to Ben Fox Rubin at ben.rubin@dowjones.com
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