Great Clips has a new leader.

The salon chain recently announced that Rhoda Olsen, who previously served as president, has replaced her brother Ray Barton as CEO-effective February 1.

Barton, who had been CEO since 1983, will remain chairman and focus his efforts on strategic decision making at the board level, including succession planning.

“We want to be a billion-dollar brand, and we really want to be a legacy brand-a brand our grandkids and great-grandkids will talk about 70 to 80 years from now. There are tremendous opportunities before us, and these transitions will allow us to move toward achieving these goals,” Barton said in a statement.

Olsen joined her brother at Great Clips in 1984 and became president in 1998.According to Great Clips, she will focus on the company's long-term vision and success while maintaining her relationships with franchisees and increasing Great Clipsâ presence within its industry and the business community.

Salon revenues for Great Clips, which has nearly 3,000 salons, totaled $819 million in 2010. The company aims to reach the $1 billion mark by 2014. However, because the salons are franchised, Great Clips receives only a portion of salon sales.

“We are all excited about the growing strength of our company and its potential to be a legacy brand-one that will positively affect the lives of thousands of employees and hundreds of thousands of customers,” Olsen said in a statement. “My goal moving forward is to help lead our focus continuing to build that brand so the next generation of guests and team members can benefit from it.”

In light of Olsen's transition to CEO, Great Clips named Charlie Simpson its new president. For the past 12 years, Simpson has served as the company's executive vice president and chief operations officer.

Edina-based Great Clips was founded in 1982.