Regis CFO to step down

  • Article by: THOMAS LEE , Star Tribune
  • Updated: November 29, 2012 - 8:34 AM

The company has hired a former Unilever executive to serve as its top financial officer.

Regis Corp. said Thursday that chief financial officer Brent Moen will leave the company in January.

The Edina-based operator of hair salons said Steven Spiegel, a former executive with Unilever Group and Alberto Culver, will replace Moen as CFO.

"I have the highest confidence that [Spiegel's] 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," CEO Dan Hanrahan said in a statement.

Moen has been on the job for less than two years, replacing Randy Pearce when Pearce succeeded Paul Finkelstein as CEO in early 2011.

Since then, Pearce and Finkelstein have both left Regis and Starboard Value LP, a New York hedge fund, has assumed control of the company through a bruising proxy fight.

Regis has been struggling to grow comparable store sales as fewer consumers visit its salons. The company has slashed costs and sold off non-core assets like Hair Club for Men and Woman and its stake in Provalliance, a chain of salons in Europe.

Thomas Lee • 612-673-4113

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