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Steelman, previously COO, succeeds Kimbell who is retiring after an 11-year tenure with the company.
January 6, 2025
By: Lianna Albrizio
Associate Editor
Dave Kimbell will step down from his role as CEO of Ulta Beauty after 11 years of service.
Kecia Steelman, president and chief operating officer, will succeed him.
Kimbell will serve as an advisor to the company through June 28, 2025.
“On behalf of the board, we are grateful to Dave for his guidance, dedication, and integrity, and for the significant contributions he has made to Ulta Beauty,” said Lorna Nagler, chair of Ulta Beauty’s board of directors. “Dave has demonstrated a deep commitment to unlocking the power of beauty for our guests and advancing Ulta Beauty’s market leadership. He has played a meaningful role in shaping Ulta Beauty into the company we are today, and we appreciate his continued service as an advisor during this transition.”
Kimbell became CEO of Ulta Beauty in 2021 after serving in executive roles with the company since 2014. During his tenure as CEO, the company grew to more than $11 billion in annual revenue and delivered double-digit growth in diluted earnings per share.
“Serving as CEO of Ulta Beauty has been the highlight of my career, and I am proud to have led and worked alongside so many associates who are passionate about delivering great experiences for our guests,” said Kimbell. “Kecia is a strategic leader with a proven record of driving operational excellence and creating exceptional guest experiences while fostering a caring and inclusive culture. I have every confidence she will expand Ulta Beauty’s leadership in beauty and wellness.”
Nagler said Steelman’s promotion was the result of a robust succession planning process. He called her a “world-class business executive with deep beauty and retail expertise, an unwavering commitment to effective execution and a profound passion for our guests and associates.” She has been instrumental in developing Ulta’s recently refreshed strategic framework.
Based on sales performance quarter-to-date, Ulta Beauty says it expects comparable sales will increase modestly and operating margin will be above the high-end of the company’s previous expected range of 11.6% to 12.4% of sales for the fourth quarter of fiscal 2024.
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