Sally Beauty Holdings Inc. announced an upcoming change in its board of directors as part of a planned leadership transition.
The Denton-based leader in professional hair color that sells and distributes professional beauty supplies globally through its Sally Beauty Supply and Beauty Systems Group businesses, said that Robert “Bob” McMaster, who plans to retire as a director, is not standing for re-election and will step down as board chair at the conclusion of the company’s annual meeting on Jan. 26.
Diana Ferguson, current independent director, has been picked by the board as chair-elect, the company said.
Ferguson has been a director at Sally Beauty since 2019 and serves as chair of the compensation and talent committee. She brings an extensive track record of success in corporate financial management, strategic planning, and transaction execution, the company said.
Ed Rabin, Marshall Eisenberg, and John Miller also announced their upcoming retirements from the board and will not be standing for re-election, the company said. These retirements follow the appointment of Rachel Bishop, Jeffrey Boyer, and Chip Molloy to the board in July, which enhanced the board’s expertise in retail operations, strategy, and finance, Sally Beauty said.
“On behalf of our Board, executive management team and all Sally Beauty Holdings associates, I would like to thank Bob, Ed, Marshall and John for their significant contributions to the Company’s growth over the past 16 years,” Denise Paulonis, president and chief executive officer, said in a statement. “Together, they have been instrumental in helping to grow Sally into a global international omnichannel retailer that is beloved by our community of DIY beauty enthusiasts and professional stylists. Over the past year, Diana has contributed meaningfully to the establishment of the Company’s future-focused strategic pillars with her insights, commitment, financial expertise and board experience. She is an outstanding choice to lead our Board, and I look forward to working with Diana in her new capacity.”
Ferguson has been a principal of Scarlett Investments LLC, a private investment firm, since 2013.
She formerly was chief financial officer to Cleveland Avenue LLC, a venture capital investment firm, from September 2015 to December 2020. She also served as CFO of the Chicago Board of Education from February 2010 to May 2011 and as SVP and CFO of The Folgers Coffee Co. from April 2008 to November 2008 when Folgers was sold.
Prior to joining Folgers, she was EVP and CFO of Merisant Worldwide Inc. Ferguson also served as the CFO of Sara Lee Foodservice, a division of Sara Lee Corp., and in a number of leadership positions at Sara Lee Corp., including senior vice president of strategy and corporate development, as well as treasurer.
She is a director of Mattel Inc. and is also a director of Gartner Inc.
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