- Push-out Score determined
- After about a year in the position
- Praise and thanks for Athayde
- Matt Doctor taking over temporarily
- Search for a successor
(exechange) — Minneapolis, Minnesota, December 23, 2021 — This news came shortly before Christmas Day. Felipe Athayde, chief executive of Regis, leaves. As announced by Regis Corp. in a news release and in a regulatory filing published on Thursday, December 23, 2021, Felipe A. Athayde leaves his post as chief executive officer at the operator of hair salons, after about a year in the role, effective immediately.
Regis will undertake a search for a successor.
Felipe Athayde’s duties as CEO will be taken over temporarily by Matthew (Matt) Doctor, most recently Executive Vice President and Chief Strategy Officer at Regis Corp., as Interim Chief Executive Officer.
Felipe Athayde’s move coincides with a management shake-up also involving the positions of Chief Operating Officer; and Chief People Officer.
“Significant impact on the profitability”
Regis did not give an explicit reason for Felipe Athayde’s departure from the CEO post. Regis said: “During his tenure at Regis, Mr. Doctor accelerated the transition of corporate to franchise salons and was instrumental in driving additional G&A savings, both of which have had a significant impact on the profitability of the Company.”
Precise information regarding Felipe Athayde’s future plans was not immediately available.
Regis said: “Felipe Athayde, President and Chief Executive Officer, has resigned from the Company. In connection with his resignation, the Board of Directors appointed Matthew Doctor, the Company’s Executive Vice President and Chief Strategy Officer, as Interim Chief Executive Officer effective December 23, 2021.”
Regis further said: “On December 19, 2021, Felipe A. Athayde, the President and Chief Executive Officer and a member of the Board of Directors (the “Board”) of Regis Corporation (the “Company”) notified the Board that he would resign his positions and his employment effective March 19, 2022. Upon receiving such notice, the Board appointed Matthew Doctor, the Company’s Executive Vice President and Chief Strategy Officer, to serve as Interim Chief Executive Officer effective December 23, 2021, after which Mr. Athayde will remain an employee and on the Board until March 19, 2022.”
Share price decline since October 2020
The announcement follows a decline in Regis Corp.’s share price of 68% since October 2020. October 2020 is the month in which Athayde’s tenure as CEO began.
In the position of CEO since 2020
Felipe Athayde became CEO of the Company in 2020.
Athayde will remain an employee and a member of the Company’s Board of Directors through March 19, 2022.
Felipe Athayde was appointed President and Chief Executive Officer in October 2020.
Prior to joining the Company, he served as President, Americas of Popeyes Louisiana Kitchen, owned by Restaurant Brands International, a multinational quick-service restaurant holding company, between March 2019 and September 2020.
Athayde has held various positions with Restaurant Brands International between 2011 and 2020, including President, Latin America and Caribbean for Burger King, and President, U.S. for Tim Hortons.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Felipe Athayde’s move on a scale of 0 to 10.
exechange reached out to Regis and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 52.2021 ($).