Ulta Beauty Names New CEO

Ulta Beauty CEO Dave Kimbell is retiring and will be replaced by the retailer’s Chief Operating Officer Kecia Steelman, the company announced Monday. The beauty retailer said in a news release that the leadership changes take effect on Monday. Steelman will also replace Kimbell on the company’s board of directors. Along with announcing the executive shakeup, Ulta raised its fiscal fourth-quarter outlook because of “stronger-than-expected performance during the holiday season.”

Steelman has been with Ulta for more than a decade and became its COO in 2023. She now will be tasked with maintaining Ulta's top spot in the beauty retail category.

Total Retail's Take: The change in leadership at Ulta comes at an interesting time for the company and the larger beauty category. With more competition entering the beauty market, including department stores such as Macy's and Kohl's (the latter largely through a partnership with Ulta's chief competitor, Sephora), and consumers still wary of an uncertain economy and thus more judiciously managing their discretionary spending, Steelman inherits the CEO role at a bit of a crossroads for Ulta. She will be looked upon to strengthen Ulta's competitive differentiators — vast product selection through brand partnerships, in-store experiences, and a connected digital ecosystem — while minimizing costs and boosting the company's bottom line.