Sally Beauty (NYSE: SBH) sets new CFO pay package and keeps 2026 guidance
Rhea-AI Filing Summary
Sally Beauty Holdings announced a planned chief financial officer transition while reaffirming its previously issued guidance for the second quarter and full fiscal year 2026. Current CFO Marlo Cormier will remain through April 11, 2026 under a separation agreement and then leave to pursue other opportunities.
The Board appointed Adrianne Lee, formerly a senior finance leader at Bed Bath & Beyond and Hertz, as Senior Vice President and Chief Financial Officer effective April 28, 2026. During the transition gap, Chief Accounting Officer Kim McIntosh will serve as principal financial officer, providing continuity in the finance function.
Positive
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Insights
Planned CFO change with experienced successor and reaffirmed 2026 guidance looks orderly and neutral.
Sally Beauty Holdings is executing a structured CFO transition. Outgoing CFO Marlo Cormier departs under a negotiated separation agreement, with no disagreements reported on operations or policies. This framing points to a non-adversarial leadership change.
Incoming CFO Adrianne Lee brings multi-company retail and consumer experience, including senior roles at Bed Bath & Beyond and Hertz. The Board also named the current Chief Accounting Officer as interim principal financial officer, which helps maintain reporting oversight during the brief gap between Cormier’s exit and Lee’s start date.
The company explicitly reaffirmed its second-quarter and fiscal 2026 guidance previously issued in February, signaling that management does not see the leadership change as altering its near-term financial expectations based on current information. Future company filings and updates will provide additional detail on Lee’s impact on strategy and execution.
8-K Event Classification
Key Figures
Key Terms
Separation Agreement financial
COBRA subsidy program financial
performance stock units financial
Annual Incentive Plan financial
forward-looking statements regulatory
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 30, 2026, Marlo Cormier and Sally Beauty Holdings, Inc. (the “Company”) discussed Ms. Cormier’s resignation from her position as Senior Vice President and Chief Financial Officer of the Company. Ms. Cormier and the Company mutually agreed that she will remain with the Company through April 11, 2026, and thereafter will leave to pursue other opportunities. Ms. Cormier’s resignation was not the result of any disagreement with the Company regarding its operations, policies, practices, or otherwise.
In connection with her resignation, Ms. Cormier entered into a Separation Agreement (the “Separation Agreement”) with Sally Beauty Supply LLC (the Company’s wholly owned subsidiary and her direct employer), effective April 11, 2026, under the terms of which Ms. Cormier will receive: (1) a gross payment of $881,250 (representing 15 months’ salary), paid to her at the next regular payroll; (2) continuation of health insurance through a COBRA subsidy program for 15 months, paid directly to the subsidy administrator; (3) a prorated annual bonus for fiscal year 2026, paid at the same time that the fiscal year 2026 annual bonuses are paid to active participants; and (4) 12 months of outplacement services. The Company receives a customary release, confidentiality agreement, and agreement not to solicit employees for a 12-month period. The description of the Separation Agreement contained herein does not purport to be complete and is qualified in its entirety by reference to the Separation Agreement, a copy of which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the period ending March 31, 2026.
On March 30, 2026, the Board of Directors (the “Board”) of the Company appointed Ms. Adrianne Lee as Senior Vice President and Chief Financial Officer of the Company, to be effective April 28, 2026. Prior to joining the Company, Ms. Lee held several roles at Bed, Bath & Beyond [NYSE: BBBY], including President & Chief Financial Officer from March 2025 to April 2026, Chief Financial and Administrative Officer from February 2024 to March 2025, and Chief Financial Officer from March 2020 to February 2024. Prior to her roles at Bed, Bath & Beyond, Ms. Lee held executive roles at Hertz Corporation, including Senior Vice President and CFO, North American Rental Car and Car Sales, from December 2018 to March 2020 and Vice President, Global Financial Planning & Analysis from 2014 to December 2018. Ms. Lee earned a Bachelor of Arts in Accounting from University of St. Thomas.
There are no family relationships between Ms. Lee and any director or executive officer of the Company required to be disclosed under Item 401(d) of Regulation S-K. There are no relationships or related transactions between Ms. Lee and the Company required to be disclosed under Item 404(a) of Regulation S-K.
The Compensation and Talent Committee (the “Committee”) of the Board approved the following compensation for Ms. Lee:
Also, on March 30, 2026, the Board appointed Ms. Kim McIntosh, the Company’s current Chief Accounting Officer, as the Company’s principal financial officer for the interim period between Ms. Cormier’s departure and Ms. Lee’s effective date.
The press release announcing the resignation of Ms. Cormier and the appointment of Ms. Lee is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
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Press release dated April 2, 2026 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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SALLY BEAUTY HOLDINGS, INC. |
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April 2, 2026 |
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/s/ Denise Paulonis |
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Name: Denise Paulonis |
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Title: President and Chief Executive Officer |
Exhibit 99.1
Sally Beauty Holdings Appoints Adrianne Lee as Chief Financial Officer
Marlo Cormier to Step Down to Pursue Other Opportunities
Reaffirms Second Quarter and Fiscal Year 2026 Guidance
PLANO, Texas – April 2, 2026 – Sally Beauty Holdings, Inc. (NYSE: SBH) (“the Company”) today announced that Adrianne Lee has been appointed Senior Vice President and Chief Financial Officer, effective April 28, 2026. Ms. Lee succeeds Marlo Cormier, who will be leaving the company, effective April 11, 2026, to pursue other opportunities.
Ms. Lee brings significant relevant experience to the role, most recently serving as President and CFO at Bed Bath & Beyond. Ms. Lee joined Bed Bath & Beyond as CFO in 2020 and became Chief Administrative Officer in 2024 and President in 2025. Prior to that, she held senior executive roles at The Hertz Corporation from 2014 to 2020, including Senior Vice President & CFO, North America Rental Car, and Car Sales and Vice President, Global Financial Planning & Analysis. Earlier in her career, Ms. Lee held finance-focused roles at Best Buy Co., Inc., PepsiAmericas, Inc., Allianz Life and Price Waterhouse Coopers. Ms. Lee attended the University of St. Thomas in St. Paul, Minnesota, and received cum laude honors while earning a Bachelor of Arts degree in business administration with a focus on accounting.
Denise Paulonis, President and Chief Executive Officer, said, “We are excited to welcome Adrianne to the Company. Adrianne brings deep financial expertise across retail and other consumer-facing industries as well as a strong strategic mindset. Her business acumen makes her a strong addition to our Senior Leadership Team, and her proven talent development capability will be a great asset as she leads our finance function. I look forward to working closely with her to continue to execute our strategy.”
Ms. Lee said, “I am honored to join the Company at such an important point in its journey, with strong brands, clear strategic priorities, and meaningful opportunities ahead. Together with Denise and the rest of the leadership team, we will continue to advance the Company’s growth strategy, maintain disciplined financial execution and help drive long‑term value for shareholders.”
Ms. Paulonis added, “On behalf of the Board and Executive Team, I want to thank Marlo for her service and her many positive contributions to the Company over the past six years. We wish her the best in her next chapter.”
The Company is reaffirming its financial guidance for its second quarter and fiscal year 2026, previously provided on February 9, 2026.
About Sally Beauty Holdings, Inc.
Sally Beauty Holdings, Inc. (NYSE: SBH), as the leader in professional hair color, sells and distributes professional beauty supplies globally through its Sally Beauty and Beauty Systems Group segments. Sally Beauty stores offer up to 7,000 products for hair color, hair care, nails, and skin care through proprietary brands such as Ion®, Bondbar®, Strawberry Leopard®, Generic Value Products®, Inspired by Nature® and Silk Elements® as well as professional lines such as Wella®, Clairol®, OPI®, L’Oreal®, Wahl® and Babyliss Pro®. Beauty Systems Group stores, branded as Cosmo Prof® or Armstrong McCall® stores, along with its outside sales consultants, sell up to 8,000 professionally branded products including Paul Mitchell®, Wella®, Matrix®, Schwarzkopf®, Kenra®, Goldwell®, Joico®, Amika® and Moroccanoil®, intended for use in salons and for resale by salons to retail consumers. For more information about Sally Beauty Holdings, Inc., please visit sallybeautyholdings.com/investor-relations.
Cautionary Notice Regarding Forward-Looking Statements
Statements in this news release that are not purely historical facts or that depend upon future events may be forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, can be identified by the use of words such as “believes,” “projects,” “expects,” “can,” “may,” “estimates,” “should,” “plans,” “targets,” “intends,” “could,” “will,” “would,” “anticipates,” “potential,” “confident,” “optimistic,” or the negative thereof, or other variations thereon, or comparable terminology, or by discussions of strategy, objectives, estimates, guidance, expectations and future plans. Forward-looking statements can also be identified by the fact that these statements do not relate strictly to historical or current matters.
Readers are cautioned not to place undue reliance on forward-looking statements as such statements speak only as of the date they were made. Any forward-looking statements involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including the “Risk Factors” described under Item 1A of our Annual Report on Form 10-K for the fiscal year ended September 30, 2025, and other filings with the U.S. Securities and Exchange Commission. Consequently, all forward-looking statements in this release are qualified by the factors, risks and uncertainties contained therein. We assume no obligation to publicly update or revise any forward-looking statements.
