Sally Beauty has tapped Adrianne Lee, who most recently was president and chief financial officer at Bed Bath & Beyond, to replace Marlo Cormier as CFO, effective April 28.
Lee has held various financial leadership positions, including at Hertz and Best Buy. Sally Beauty CEO Denise Paulonis called out Lee’s “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,” Paulonis said in a statement.
The beauty segment, especially the mass market, remains strong in an otherwise rough consumer environment. Still, Sally Beauty, Ulta and Sephora are expected to lose share to social media commerce and Amazon in the next few years.
Sally Beauty last month announced it expanded into social commerce with the launch of its brand on TikTok Shop.
Cormier is leaving April 11 to pursue other opportunities, the beauty retailer said. At Bed Bath & Beyond, Container Store CFO Brian LaRose will replace Lee in the role; Bed Bath & Beyond last week said it has agreed to acquire the home goods and organization retailer for $150 million.
