Regis Corp. has chosen a cruise-ship industry executive as its next CEO, it announced Wednesday, July 11.
Daniel Hanrahan, 54, was named CEO of the Edina-based hair-care giant, effective Aug. 6. For the past five years, Hanrahan was president and CEO of Celebrity Cruises, an arm of Royal Caribbean Cruises.
"Dan is a proven results-oriented leader who understands the value of the customer experience and will be a great asset to Regis," Joel Conner, chairman of the board, said in a statement. "With his operational background and extensive experience across a wide spectrum of consumer-facing brands, Dan is the ideal candidate to drive Regis' comprehensive strategy."
Hanrahan earlier held executive positions at Royal Caribbean International, Polaroid Corp. and Reebok International. Earlier in his career, he also worked at Nestle Foods, Texas Instruments and Gallo Winery.
The past year has been no cruise ship for Regis, marked by declining sales, layoffs at its Edina headquarters, asset sales and, especially, turmoil in the boardroom.
Last fall, an activist hedge fund waged and won a proxy fight to defeat three existing Regis directors and install their own slate. The retirement of its incoming CEO soon followed.
Hanrahan said he was "pleased to be joining Regis during this exciting time in its history." In a statement, he noted Regis' strengths, including its "market leading position in the hair-care industry."
Regis owns or franchises 12,700 salons
worldwide, under brands including Supercuts, MasterCuts and Regis Salons.
Regis shares were up 14 cents in after-hours trading Wednesday. The announcement was made after market close.
Most Popular Stories
- Paniagua Wins Grand Prize in Young Artists Program
- Yaris Adds French Flair for US Market
- Cable TV Not Going Away, Says Cable TV
- German Intelligence Blames Ukraine Rebels for MH17
- IBM to Pay Big to Unload Chip Division
- Sub Hunt Brings Cold War Chill Back to Baltic
- Turkey to Help Kurds Reach Fight in Kobani
- Perez Leads Push for Obama's Job Proposals
- Cowboys Turn Back Clock to Glory Days
- Kerry Cites Moral Need in Weapons Air Drop