Ulta Beauty Names Kecia Steelman as New President and Chief Executive Officer
In a significant leadership change, Ulta Beauty has appointed Kecia Steelman as its new president and CEO. This move follows the retirement of Dave Kimbell, who has been with the company for 11 years.
Leadership Change and Retirement of Dave Kimbell
Dave Kimbell, who became CEO in 2021 after holding various executive roles since 2014, led the company to over $11 billion in annual revenue and double-digit growth in diluted earnings per share. He will continue to serve as an advisor to the company until June 28, 2025.
According to Kimbell, serving as CEO of Ulta Beauty has been the highlight of his career, and he is proud to have led and worked alongside so many associates who are passionate about delivering great experiences for their guests. Kimbell expressed confidence that Steelman will expand Ulta Beauty’s leadership in beauty and wellness.
About Kecia Steelman
Kecia Steelman has been named president and COO in 2023, having held a variety of executive roles within the company since 2014. With over ten years at Ulta Beauty, Steelman’s expertise spans across retail operations and services, real estate, corporate strategy, and business transformation.
Steelman has stated that she is honored to become the next CEO of Ulta Beauty. She emphasizes that Ulta Beauty is more than a beauty retailer – it is a destination that helps bring to life all the beautiful possibilities that lie within every guest and associate who walks through its doors.
Steelman’s Vision for Ulta Beauty
Steelman has expressed confidence in the strategic priorities that she shared with her teams last fall. She believes that these priorities will enable them to capture greater market share in beauty and wellness, deliver long-term profitable growth, and unlock even greater advantages of their operating model.
According to Steelman, "I am excited to lead our outstanding teams as we position Ulta Beauty for our next chapter of growth as the beauty destination for a lifetime."
Ulta Beauty’s Long-Term Financial Goals
In October 2024, Ulta Beauty unveiled its plan to open 200 new stores by 2027, as part of its long-term financial goals and strategy.
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Background on Ulta Beauty
Ulta Beauty is a US-based specialty beauty retailer that has been in operation for many years. The company has a strong track record of growth and innovation, driven by its commitment to delivering exceptional guest experiences and fostering a caring and inclusive culture.
Dave Kimbell’s Legacy
Under Dave Kimbell’s leadership, Ulta Beauty achieved significant milestones, including:
- Over $11 billion in annual revenue
- Double-digit growth in diluted earnings per share
Kimbell’s tenure as CEO has been marked by his dedication to the company’s mission and values. He will be remembered for his commitment to creating a positive work environment and driving business success.
Kecia Steelman’s Appointment
The appointment of Kecia Steelman as president and CEO is seen as a strategic move to continue the company’s growth trajectory. With her extensive experience in retail operations, services, real estate, corporate strategy, and business transformation, Steelman is well-equipped to lead Ulta Beauty into its next chapter of growth.
Ulta Beauty’s Future Plans
As part of its long-term financial goals and strategy, Ulta Beauty has unveiled plans to open 200 new stores by 2027. This expansion will enable the company to increase its market share in beauty and wellness, deliver long-term profitable growth, and unlock even greater advantages of its operating model.
Conclusion
The appointment of Kecia Steelman as president and CEO of Ulta Beauty marks a significant leadership change for the company. With her expertise and vision, Steelman is poised to lead Ulta Beauty into a new era of growth and success.
Ulta Beauty’s commitment to delivering exceptional guest experiences and fostering a caring and inclusive culture will continue to be a key driver of its business strategy. As the company expands its operations and increases its market share, it will remain focused on its mission to bring to life all the beautiful possibilities that lie within every guest and associate who walks through its doors.
The future looks bright for Ulta Beauty under Steelman’s leadership, and we can expect to see continued growth and innovation from this leading beauty retailer.
