The CEO of Minneapolis-based Regis Corp. announced he is leaving the company after three years at the top during which it has regained its balance in the hair salon industry.
Matthew Doctor, who became CEO in May 2022, did not say why he was leaving but said in a news release that “after thoughtful consideration, I made the decision that now is the right time for me to explore other opportunities.”
He will step down from his roles as president and CEO on June 30 but remain with the company through August to help support a transition to new leadership.
Jim Lain, currently the executive vice president who leads Regis’ Supercuts and Cost Cutters brands, will serve as interim president and CEO.
Mike Merriman, chair of Regis’ board of directors, said Doctor is leaving the company positioned for long-term growth.
“Matt initially joined the company in a strategic role and quickly proved to be a transformative leader,” said Merriman. “He has been instrumental in shaping the company’s direction, stabilizing operations, restoring profitability and strengthening our financial position.”
Doctor joined Regis as a strategic consultant in 2020 and became executive vice president and chief strategy officer in February 2021. He served a stint as interim CEO before taking the helm at 35 years old.
During his tenure, Doctor completed the yearslong process of converting Regis from a salon company that was a mix of corporate-owned and franchised salons to an all-franchise model concentrated on five brands, primarily Cost Cutters and Supercuts.
