Ulta Beauty names new chief executive
Ulta Beauty has appointed Kecia Steelman as its new chief executive.
She has succeeded Dave Kimbell who has retired after working for 11 years with the brand but will remain as an advisor until 28 June.
Having joined Ulta Beauty in 2014, Steelman has served in a variety of executive roles within the company and was promoted to the position of president and chief operating officer in 2023.
Lorna Nagler, chair of the Ulta Beauty board, said: “As a result of the board’s robust succession planning process, we are pleased to name Kecia Steelman as the new president and chief executive of Ulta Beauty.
“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.”
Meanwhile, Kimbell became chief executive in 2021 after serving in executive roles with the company since 2014. During his time at the helm, Ulta Beauty grew its annual revenue to more than $11 billion.
Nagler added: “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.
”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.”
Based on a stronger than expected performance over the Christmas trading period, Ulta Beauty has increased its fourth quarter outlook and now expects comparable sales to increase “modestly” with operating margin above the high-end of the company’s previous expected range of 11.6% to 12.4% of sales.
