Ulta Beauty names new CEO
An Ulta Beauty company veteran has taken the reins of the beauty giant.
The nation’s largest specialty beauty retailer said that Dave Kimbell is retiring as CEO and will step down from the company’s board. Kecia Steelman, Ulta president and COO, succeeds him as president and chief executive and will join the company’s board. The changes are effective immediately (Jan. 6, 2025).
Kimbell has served as CEO of Ulta since June 2021, succeeding Mary Dillon in the role. He joined the company as a chief marketing officer in 2014 and was named president in 2019. Kimbell will serve as an advisor to Ulta 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, Ulta Beauty board chair. “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."
Ulta's new CEO, Steelman, was named president and COO in 2023 after serving in a variety of executive roles with the company since 2014.
"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," said Nagler. "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."
In a statement, Steelman noted that Ulta is more than a beauty retailer.
"We are a destination that helps bring to life all the beautiful possibilities that lie within every guest and associate who walks through our doors," she said. "I am confident the strategic priorities we shared last fall will enable us to capture greater market share in beauty and wellness and deliver long-term profitable growth."
Fourth quarter update
Reflecting stronger-than-expected performance during the holiday season, Ulta Beauty said it has increased its fourth quarter outlook. Based on sales performance quarter-to-date, 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.
The company will report financial results for the fourth quarter and fiscal 2024 on March 13, 2025.
Ulta Beauty operates more than 1,437 retail stores across 50 states.
