Ulta Beauty names Kecia Steelman as new CEO

Ulta Beauty has announced the retirement of Dave Kimbell as chief executive officer after 11 years with the business. The company said Kecia Steelman, president and chief operating officer, will succeed Kimbell as president and CEO.

Reflecting stronger-than-expected performance during the holiday season, Ulta Beauty now expects fourth quarter comparable sales will increase modestly and operating margin will be above the high-end of the company’s previous expected range of 11.6 percent to 12.4 percent of sales.

“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.

The company said in a release that Kimbell became chief executive officer 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 dollars in annual revenue and delivered double-digit growth in diluted earnings per share.

“Kecia is 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 our recently refreshed strategic framework, and we are confident that she is the right person to lead Ulta Beauty forward,” added Nagler.

Steelman was named president and COO in 2023 after serving in a variety of executive roles with the company since 2014. During her more than 10 years with Ulta Beauty, the company added, she has consistently driven exceptional execution, while fostering strong external partnerships and a collaborative culture.