MINNEAPOLIS--(BUSINESS WIRE)--Regis Corporation (NYSE: RGS) announced today that the Board has appointed Andrew H. Lacko as Executive Vice President and Chief Financial Officer, effective July 1, 2017. Mr. Lacko will replace Michael Pomeroy, who has served as Interim Chief Financial Officer since February 1, 2017.
Hugh Sawyer, President and Chief Executive Officer, stated, “Andrew Lacko is well known to me and a highly competent executive. I am delighted that he is joining our Regis leadership team. Andrew has a set of skills and experiences that are remarkably well-suited for the opportunities we have to enhance shareholder value. I look forward to serving with him in the years ahead.”
Mr. Lacko, 47, has over 20 years of broad-based, strategic finance experience. He currently serves as Senior Vice President, Global Financial Planning, Analysis and Corporate Development, of Hertz Global Holdings, Inc. Prior to joining Hertz in 2014, he held finance leadership positions of increasing responsibility at Best Buy, Northwest Airlines, and UnitedHealth Group. In his various roles, he oversaw business analytics, planning, strategy, corporate development and investor relations.
Upon commencement of Mr. Lacko’s employment, he will receive an initial equity award of restricted stock units valued at $350,000, issued in reliance on the employment inducement exception to the New York Stock Exchange rules regarding shareholder approval of equity compensation plans, Rule 303A.08. The restricted stock units will vest as to one-third of the shares on each of the first three anniversaries of the grant date.
About Regis Corporation
Regis Corporation (NYSE:RGS) is the leader in beauty salons and cosmetology education. As of March 31, 2017, the Company owned, franchised or held ownership interests in 9,217 worldwide locations. Regis’ corporate and franchised locations operate under concepts such as Supercuts, SmartStyle, MasterCuts, Regis Salons, Sassoon Salon, Cost Cutters, Roosters and First Choice Haircutters. Regis maintains an ownership interest in Empire Education Group. For additional information about the Company, including a reconciliation of certain non-GAAP financial information and certain supplemental financial information, please visit the Investor Information section of the corporate website at www.regiscorp.com. To join Regis Corporation’s email alert list, click on this link: http://www.b2i.us/irpass.asp?BzID=913&to=ea&Nav=1&S=0&L=1