Ulta Beauty Names New CEO

Ulta Beauty CEO Dave Kimbell is retiring after 11 years with the beauty specialty retailer and will be succeeded by Kecia Steelman, the company’s current president and chief operating officer, who will also join the company’s board of directors. The move is effective January 6.

Kimbell became CEO 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 in annual revenue and delivered double-digit growth in diluted earnings per share.

“Serving as CEO of Ulta Beauty has been the highlight of my career, and I am proud to have led and worked alongside so many associates who are passionate about delivering great experiences for our guests,” said Kimbell. “Kecia is a strategic leader with a proven record of driving operational excellence and creating exceptional guest experiences while fostering a caring and inclusive culture. I have every confidence she will expand Ulta Beauty’s leadership in beauty and wellness.”

Steelman was named the retailer’s president and chief operating officer in 2023 after serving in a variety of executive roles with the company since 2014. She has been pivotal in developing and executing the company’s strategies to deliver profitable growth. 

“Dave has been a supportive leader, mentor, and friend, and I am honored to become the next CEO,” said Steelman. “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, and I am excited to lead our outstanding teams as we unlock even greater advantages of our operating model, drive best-in-class execution, and position Ulta Beauty for our next chapter of growth as the beauty destination for a lifetime.”