Leadership: Ulta Beauty Unveils Leadership Transition with New CEO Announcement

Ulta Beauty Announces Leadership Transition: Kecia Steelman to Succeed Dave Kimbell as CEO

Ulta Beauty, the largest specialty beauty retailer in the U.S., has announced a significant leadership change. Dave Kimbell, who has served as the company’s Chief Executive Officer since 2021, will retire after an impressive 11-year tenure with the company. Kimbell will also step down from the Board of Directors but will remain an advisor through June 28, 2025, to ensure a smooth transition.

Effective January 6, 2025, Kecia Steelman, currently serving as President and Chief Operating Officer, will assume the role of President and Chief Executive Officer. Steelman will also join the company’s Board of Directors.

Lorna Nagler, Chair of Ulta Beauty’s Board of Directors, expressed gratitude for Kimbell’s dedication and contributions. “Dave has demonstrated a deep commitment to unlocking the power of beauty for our guests and advancing Ulta Beauty’s market leadership. His visionary leadership helped shape Ulta Beauty into the powerhouse it is today. We are thankful for his continued guidance during this transition.”

Lorna Nagler, Chair of Ulta Beauty’s Board of Directors, extended heartfelt appreciation for Dave Kimbell’s remarkable tenure as CEO. She highlighted his unwavering dedication to the company and his transformative impact on Ulta Beauty’s success.

“Dave has exemplified a deep commitment to unlocking the power of beauty for our guests and solidifying Ulta Beauty’s position as an industry leader,” Nagler said. “His visionary leadership and strategic insights have played an instrumental role in shaping Ulta Beauty into the powerhouse it is today. We are immensely grateful for his contributions and his continued guidance as we transition to this next chapter.”

During his tenure, Kimbell spearheaded significant milestones, including elevating the company’s revenue to over $11 billion annually, driving record growth in customer loyalty, and fostering an inclusive culture that resonated deeply with associates and guests alike. His emphasis on operational excellence and market innovation ensured Ulta Beauty remained at the forefront of the beauty industry.

As Kimbell steps down from his role as CEO, he will continue to serve as an advisor to the company through June 2025, supporting a seamless leadership transition. Kecia Steelman, currently the company’s President and Chief Operating Officer, will succeed him as CEO effective January 6, 2025. Recognized for her strategic acumen and operational expertise, Steelman is poised to lead Ulta Beauty into its next phase of growth.

Ulta Beauty’s Board of Directors expressed confidence in Steelman’s ability to build upon Kimbell’s legacy, ensuring the company remains a destination for beauty and wellness. With strong leadership in place, Ulta Beauty is positioned to capture even greater market opportunities, driving long-term growth and enhancing its status as a leader in the beauty retail space.

Celebrating Dave Kimbell’s Legacy

Kimbell has been a transformative leader throughout his career at Ulta Beauty. Joining the company in 2014, he held several executive roles before becoming CEO in 2021. Under his leadership, the company achieved remarkable milestones, including exceeding $11 billion in annual revenue and delivering double-digit growth in diluted earnings per share.

His inclusive leadership style has driven Ulta Beauty’s market expansion, enhanced brand loyalty, and strengthened its world-class loyalty program. Reflecting on his tenure, Kimbell remarked, “Serving as CEO of Ulta Beauty has been the highlight of my career. I’m immensely proud of what we’ve accomplished together and confident in Kecia’s ability to lead Ulta Beauty into an even brighter future.”

Welcoming Kecia Steelman as CEO

Steelman, a seasoned executive with over a decade of experience at Ulta Beauty, is highly regarded for her strategic vision and operational expertise. Promoted to President and COO in 2023, she has been instrumental in executing the company’s strategies for profitable growth and fostering a collaborative and inclusive culture. Her leadership has spanned multiple areas, including retail operations, real estate, and corporate strategy.

“Dave has been an incredible leader, mentor, and friend,” Steelman said. “Ulta Beauty is more than a retailer—it’s a destination that celebrates the unique beauty in every guest and associate. I am honored to lead this remarkable organization as we continue to innovate, expand our market presence, and deliver on our mission to make beauty inclusive and accessible.”

Nagler emphasized the Board’s confidence in Steelman, stating, “Kecia’s extensive industry expertise, commitment to operational excellence, and passion for our brand make her the ideal leader to guide Ulta Beauty into its next chapter.”

Business Outlook and Updates

As the company transitions its leadership, Ulta Beauty has also raised its outlook for the fourth quarter of fiscal 2024, reflecting stronger-than-expected holiday season performance. The company now anticipates modest growth in comparable sales and an operating margin exceeding the previously projected range of 11.6% to 12.4% of sales.

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

About Ulta Beauty

Founded in 1990, Ulta Beauty has redefined the beauty retail experience by combining All Things Beauty, All in One Place®. With over 1,437 stores across all 50 states and a robust online platform, Ulta Beauty offers a diverse range of cosmetics, skincare, haircare, and salon services.

The company’s unwavering commitment to innovation, inclusivity, and exceptional customer experiences has solidified its position as the premier beauty destination in the U.S. For more information, visit www.ulta.com.

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