- Push-out Score determined
- After almost seven years in the position
- Praise, thanks and good wishes for Brickman
- Denise Paulonis taking over
- Brickman kept it short and said 58 words
(exechange) — Denton, Texas, September 1, 2021 — Chris Brickman, chief executive of Sally Beauty, leaves. As announced by Sally Beauty Holdings Inc. in a news release and in a regulatory filing published on Wednesday, September 1, 2021, Christian A. (Chris) Brickman leaves his post as chief executive officer at the specialty retailer and distributor of professional beauty supplies, after almost seven years in the role, effective September 30, 2021.
Chris Brickman’s duties as CEO will be taken over by Denise Paulonis, currently Chief Financial Officer at Sprouts Farmers Market.
Already a director
Paulonis is already a director of Sally Beauty. Generally speaking, most director-turned-CEO appointments occur following a sudden resignation of the outgoing CEO and signal a lack of preparedness on the company’s part to groom internal talent. Directors-turned-executives represent a blend of outsider and insider.
They don’t have the constraints of a pure insider when it comes to leading painful changes or making unpopular decisions, and they have more company knowledge than a pure outsider.
Having been a director, Paulonis understands the expectations and dynamics of the board and has knowledge of Sally Beauty’s organization, risk-management practices and strategy.
“Now is the right time”
Chris Brickman’s departure from the CEO post is explained as follows. Robert McMaster, Chair of the Sally Beauty Holdings Board of Directors, said: “As the Company emerges from the hard work of its transformation, both the Board and Chris agree that now is the right time for a change in leadership.”
Sally Beauty stated: “This leadership transition is the result of the Board of Directors’ and Mr. Brickman’s deliberate and collaborative approach to succession planning.”
Precise information regarding Chris Brickman’s future plans was not immediately available.
“Stepping down/terminate employment”
Sally Beauty said: “Ms. Paulonis succeeds Chris Brickman who will be stepping down.”
Sally Beauty further said: “Christian A. Brickman, the Company’s current President and Chief Executive Officer, will terminate employment and his role as Chairman of the Board effective September 30, 2021.”
Share price decline since February 2015
The announcement follows a decline in Sally Beauty Holdings Inc.’s share price of 40% since February 2015. February 2015 is the month in which Brickman’s tenure as CEO began.
In the position of CEO since 2015
Chris Brickman became CEO of the Company in 2015.
Brickman will continue to serve as President and Chief Executive Officer of the Company and as a member of the Board until September 30, 2021, when he will step down from both positions.
Thereafter, Brickman will serve in a consulting capacity through March 31, 2022, to support an orderly transition.
Brickman has served on the Company’s Board of Directors since September 2012 and is the Corporation’s President and Chief Executive Officer, a role he has held since February 2015.
Prior to being appointed to his current role, Brickman served as President and Chief Operating Officer of the Corporation from June 2014 to February 2015.
Prior to joining the Corporation, Brickman served as President of Kimberly‑Clark International from May 2012 to February 2014, where he led the Corporation’s international consumer business in all operations.
From August 2010 to May 2012, Brickman served as President of Kimberly‑Clark Professional.
From 2008 to 2010, Brickman served as Chief Strategy Officer of Kimberly‑Clark and played a key role in the development and implementation of Kimberly‑Clark’s strategic plans and processes to enhance enterprise growth initiatives.
Prior to joining Kimberly‑Clark, Brickman was a Principal in McKinsey & Company’s Dallas, Texas office and a leader in the firm’s consumer packaged goods and operations practices.
Before joining McKinsey, Brickman was President and CEO of Whitlock Packaging, the largest non‑carbonated beverage co‑packing company in the United States, from 1998 to 2001.
From 1994 to 1998, he was with Guinness/United Distillers, initially as Vice President of Strategic Planning for the Americas region and then as General Manager for Guinness Brewing Worldwide’s Latin America region.
Brickman was awarded an advanced bachelor’s degree in economics in 1986 from Occidental College in Los Angeles where he graduated with honors, Phi Beta Kappa and cum laude.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Chris Brickman’s move on a scale of 0 to 10.
exechange reached out to Sally Beauty and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 36.2021 ($).