Felipe Athayde
CEO Pay Watch: New Regis CEO got $2.5 million signing bonus
The new CEO of hair salon company Regis realized $3.8 million in compensation his first year, $2.5 million from a signing bonus.
September 16, 2021 at 10:21PM
Regis Corp.
President and CEO
- Total compensation: $3,776,526 for the year-ended June 30
- Salary: $520,064
- Bonus: $2,500,000
- Non-equity incentive pay: $587,344
- Other compensation: $169,118
- CEO pay ratio: 449 to 1
- Median employee pay: $24,186
- Total fiscal 2021 total return: 14.4%
Note: Athayde was appointed president and chief executive of Regis Corp. on Oct. 5.
He succeeded Hugh Sawyer, who retired, and began working to complete a change in the Minneapolis-based company's structure. Regis shifted from operating a mix of corporate-owned and franchised-owned hair salons to an all-franchised model.
In the company's most recent call with analysts to discuss quarterly results, Athayde said the transformation was essentially complete.
Prior to joining Regis, Athayde was the Americas president of Popeyes Louisiana Kitchen. His compensation for the year included a $2.5 million signing bonus, long-term equity awards that were valued at $5 million, and $150,000 for temporary housing expenses and relocation expenses.
Most of the annual cash incentive goals for the year were based on the conversion to the all-franchise model and adoption of Opensalon Pro, the company's online customer and salon management system. Executives earned 89.5% of the targeted bonus for the year. Athayde's bonus for the year was $587,344.
The company held management salaries constant in fiscal 2021 and Athayde's base salary rate was $700,000. The base salary of former CEO Sawyer was $950,000.
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