Shake-up at Regis continues: Top operations executive out
- Article by: JACKIE CROSBY
- Star Tribune
- January 20, 2012 - 7:44 PM
Struggling salon chain Regis Corp. said Friday that chief operating officer David Bortnem's employment has "terminated effective immediately."
The Edina-based company appointed general counsel Eric Bakken to the post on an interim basis, according to regulatory filings.
Regis, which operates such brands as Regis Salons, Cost Cutters, Supercuts and Hair Club for Men and Women, reported last week that same-store sales declined 3 percent in the second quarter. It was its 14th quarter without a gain.
Activist investor Starboard Value LP won three seats on the company's board last year after a bruising proxy battle.
Bakken, 44, has been a Regis vice president since 2010. He was a senior vice president from 2006 to 2009. He has been involved in legal matters with the company since 1994.
Bortnem joined the company in 1998 as a salon director. He moved through the ranks, working as vice president of the Regis division from 2000 to 2003, followed by three years as vice president for MasterCuts before becoming the chief operating officer of MasterCuts in 2006.
Jackie Crosby • 612-673-7335
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