Chain beauty-salon operator Regis (NYSE:RGS) said on Monday that Randy Pearce, currently the company’s president, will serve as its next chief executive, effective in February.
The new boss will replace Paul Finkelstein, who played an active role in naming a new chief during the three-year succession plan.
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“We believe this is a great next step in what has been a thoughtful and planned CEO succession process begun more than three years ago,” Finkelstein said. “Randy has extensive knowledge of Regis and the industry and is the driving force behind the key operational and cost savings changes that are underway at the company.”
Pearce, 56, has been with Regis since 1985 after serving four years with the international public accounting firm of Coopers & Lybrand.
In his 26 years at the company, Pearce, who is a CPA and graduate of University of Minnesota’s Carlson School Executive Management program, has served in a variety of financial positions.