Ulta Beauty Names New CEO: Kecia Steelman Takes Charge

Ulta Beauty Announces CEO Transition

Ulta Beauty, recognized as the leading specialty beauty retailer in the nation, is ushering in a new era with the retirement of its long-serving Chief Executive Officer, Dave Kimbell. After an impressive 11-year tenure, Kimbell will step down from his role and transition to advisory responsibilities, allowing Kecia Steelman, the current President and Chief Operating Officer, to take the reins. This leadership change is set to take effect on January 6, 2025, as Ulta Beauty continues to solidify its position in the market.

Appreciating Dave Kimbell's Leadership

Lorna Nagler, Chair of the Board of Directors at Ulta Beauty, expressed profound gratitude for Kimbell's leadership and dedication. "On behalf of the Board, we are thankful for Dave's guidance, dedication, and integrity, and for the significant contributions he has made to Ulta Beauty," she emphasized. Kimbell has been a key figure in advancing the company’s market position, focusing on inclusivity and championing its unique culture.

Achievements Under Kimbell's Tenure

Under Kimbell's stewardship, Ulta Beauty experienced a remarkable trajectory, reaching over $11 billion in annual revenue. His commitment to operational excellence and inclusive beauty has not only fostered significant increases in brand loyalty but also propelled the expansion of Ulta’s renowned loyalty program. His expertise was evident throughout his career, especially during his time as CEO from 2021 onwards.

Kecia Steelman: The New Face of Ulta Beauty

As Steelman prepares to step into her new role, she brings an impressive background steeped in the beauty and retail industries. Her leadership role as President and Chief Operating Officer came in 2023, prior to which she held numerous executive positions since joining Ulta over a decade ago. Steelman's inclusive approach and strategic vision have significantly influenced Ulta's recent strategic framework, setting the stage for continued growth.

"I am honored to become the next CEO of Ulta Beauty," said Steelman, reflecting on the weight of her new role. She views Ulta Beauty not merely as a retailer but as a transformative destination that empowers guests and associates alike, encouraging them to embrace their unique beauty. Steelman is optimistic about the strategies laid out to capture greater market share in the beauty and wellness sectors.

Fourth Quarter Performance Outlook

In light of a robust holiday performance, Ulta Beauty is optimistic about its fourth-quarter outlook. Sales performance has exceeded expectations, leading to an anticipated modest increase in comparable sales. Furthermore, the operating margin is expected to exceed the previously projected range of 11.6% to 12.4% of sales for this fiscal quarter. Financial results for the fourth quarter and fiscal 2024 will be revealed on March 13, 2025.

About Ulta Beauty

Ulta Beauty (NASDAQ: ULTA) is renowned for redefining the beauty retail experience since 1990, making it the largest specialty beauty retailer in the U.S. It offers a comprehensive array of products, including cosmetics, skincare, hair care, and salon services, all under one roof. With over 1,437 stores nationwide, Ulta Beauty also extends its offerings through its online platform, which features a wealth of beauty content and tutorials.

Frequently Asked Questions

Who is the new CEO of Ulta Beauty?

The new CEO of Ulta Beauty is Kecia Steelman, who will succeed Dave Kimbell effective January 6, 2025.

What contributions did Dave Kimbell make during his tenure?

Dave Kimbell led Ulta Beauty to significant growth, reaching over $11 billion in annual revenue and establishing a strong culture of inclusivity.

What is Ulta Beauty's current performance outlook?

Ulta Beauty has improved its fourth-quarter performance outlook, anticipating modest increases in comparable sales and a higher operating margin.

When will Ulta Beauty report its financial results?

Ulta Beauty plans to report its financial results for the fourth quarter and fiscal 2024 on March 13, 2025.

How can I learn more about Ulta Beauty's offerings?

You can explore more about Ulta Beauty's products and services on their official website at www.ulta.com.

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