Chris Brickman, president and chief operating officer of Sally Beauty Holdings Inc., has added the title of chief executive officer.
He succeeds Gary Winterhalter, who remains executive chairman of the firm.
The previously announced transition came as Sally reported first-quarter earnings that fell 5.3 percent and missed analysts’ expectations.
In the three months ended Dec. 31, net income fell to $54.9 million, or 35 cents a diluted share, from $58 million, also 35 cents.
Net sales expanded 2.6 percent to $964.5 million from $940.5 million in the first quarter of fiscal 2014. Same-store sales grew 2.3 percent.
Analysts, on average, expected EPS of 38 cents on sales of $975.1 million.
Brickman noted that unfavorable foreign currency translation subtracted about 1.2 percent from sales growth. He added that subsequent quarters are expected to show improvement based on actions taken by the company.
“Overall, we are very pleased with the early results of all our initiatives including CRM, marketing, the nail studio, our store refresh program and the acquisition of new brands/territories for our [Beauty Systems Group] business,” Blackman said.
Winterhalter has served as Sally’s ceo since its 2006 separation from Alberto-Culver Co.
During his tenure, annual sales grew to $3.8 billion from $2.4 billion, adjusted ebitda more than doubled and the stock price quadrupled, the firm said.
Brickman, the former president of Kimberly-Clark International, joined Sally’s board in 2012 and became president and chief operating officer in June.