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3mo ago

Ulta Beauty Appoints Kecia Steelman as CEO, Raises Holiday Quarter Outlook

Dave Kimbell steps down as CEO after 11 years at Ulta, with Steelman taking over leadership as the company anticipates stronger-than-expected fourth-quarter results.

Overview

  • Dave Kimbell retires as CEO of Ulta Beauty, effective immediately, and will remain as an advisor until June 28, 2025.
  • Kecia Steelman, previously Chief Operating Officer, has been named CEO and will also join Ulta's board of directors.
  • Ulta has raised its fiscal fourth-quarter outlook, expecting operating margins to exceed the high end of its previous range of 11.6% to 12.4%.
  • The leadership transition follows Ulta's recent strategic roadmap, which includes plans for 200 new stores and expanded loyalty program membership by 2028.
  • Ulta shares rose in after-hours trading following the announcement, reflecting investor confidence in Steelman's promotion and the updated financial guidance.