Regis Appoints Hugh Sawyer As President And CEO - Quick Facts

(RTTNews) - Regis Corp. (RGS) announced that after successful completion of the CEO transition Dan Hanrahan has left the Company and the Board has appointed Hugh Sawyer to replace Hanrahan as President and CEO. Sawyer was also appointed to the Board of Directors, filling the vacancy created by Mr. Hanrahan.

Sawyer, 62, has served as President or CEO of eight companies and on numerous boards of directors over a forty-year career. He was most recently a Managing Director of Huron Consulting Group Inc., a management consulting firm, since January 2010.

In connection with Mr. Sawyer's appointment, Regis will grant him initial equity awards having an aggregate value of $5 million, 80% of which will be in the form of stock-settled stock appreciation rights and 20% in the form of restricted stock units. Mr. Sawyer will not receive an additional equity grant when Regis makes its fiscal 2018 annual grants in August 2017.