Sally Beauty Shares Sink After CFO Resignation

By Tonya GarciaMarketsMarketWatch Pulse

Sally Beauty Holdings Inc. shares dropped 6.7% in Thursday trading after the company announced in a filing that Chief Financial Officer Mark Flaherty has resigned, effective Sept. 30. Flaherty is leaving to pursue other interests and his departure "was not the result of any disagreement," the filing said. Janna Minton, the company's chief accounting officer, will serve as interim CFO until a permanent replacement is announced. Sally Beauty shares are up 11.5% for the past 12 months, but down 6.3% for the year so far. The S&P 500 Index is up 5.4% for the year to date.

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