
Dave Kimbell, CEO of US-based beauty retailer Ulta Beauty is to retire after 11 years with the company. He will be replaced by Kecia Steelman, who is currently Ulta Beauty’s President and Chief Operating Officer. Steelman will also join the company’s board.
Steelman was named President and Chief Operating Officer in 2023 after occupying a number of executive roles with the company since 2014.
Kimbell is to be an advisor to the company until June 28, 2025.
Kimbell was named CEO of Ulta Beauty in 2021 after having executive roles with the company since 2014. During his tenure as CEO, the company grew to more than $11bn in annual revenue.
Ulta Beauty also raised its fourth-quarter outlook as a result of a stronger-than-expected performance during the holiday season. The company now 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.