Internal Succession Planning Underscores the
Leading Retailers’ Continuity, Momentum
Ulta Beauty, the nation’s largest beauty retailer, leads the
industry with its unparalleled beauty authority, retail innovation,
diverse assortment and passionate associates. Following a thorough
succession planning process, the company today announced leadership
changes to drive continuity and continued momentum, all effective
in June. Dave Kimbell, president, will succeed Mary Dillon as chief
executive officer and will be nominated to stand for election to
the company’s board of directors at the 2021 annual stockholders
meeting. Dillon will transition to the role of executive chair of
the board of directors. Kecia Steelman, currently chief store
operations officer, will be elevated to the role of chief operating
officer.
“It has been the honor of my career to lead the Ulta Beauty
family for the last eight years and a true joy to have been
inspired by our dedicated associates and beauty-loving guests
daily. Our strategies, culture and continuous innovation have
strengthened our business model, ensuring we are well-positioned to
continue leading the industry,” said Dillon. “Throughout my time
with the company, I have worked closely with our board on strategic
succession plans, and I believe now is the right time to begin a
CEO transition. Dave is a world-class business leader with
incredible passion, deep beauty expertise, unwavering drive and a
values-based leadership style. The board, executive team and I
could not be more thrilled to congratulate and support Dave as he
takes this new role. There is no one better suited to unlock even
more beautiful possibilities.”
A results-driven, inclusive leader, Kimbell is highly regarded
in the beauty industry and has been pivotal in developing and
executing growth strategies to move the Ulta Beauty business
forward. He joined Ulta Beauty as chief marketing officer in 2014
and continually expanded his leadership responsibilities, named
chief merchandising and marketing officer in 2015 and ultimately
assuming the role of president in 2019. His proven track record of
success spans his tenure with the company and is rooted in deep
expertise across corporate strategy, merchandising, insights and
analytics, marketing and brand development, loyalty, innovation,
and business transformation.
“I am humbled to serve as the next CEO of Ulta Beauty,
succeeding Mary, whose leadership has been transformational,
creating lasting impact across the beauty and retail industries. We
will continue to build upon the foundation she set to ensure Ulta
Beauty is a destination where every guest feels welcome and every
associate can have a fulfilling career,” said Kimbell. “I
appreciate the support from Mary and our entire board of directors
and look forward to leading with Kecia, our outstanding executive
team and every Ulta Beauty associate through the lens of our
well-established values and winning culture.”
Kecia Steelman, the retailers’ current chief store operations
officer, will assume the role of chief operating officer where she
will oversee store and services operations, supply chain, Ulta
Beauty at Target and other, key initiatives. Most recently, she led
the unprecedented and fluid dynamics of store operations throughout
2020 through the lens of safety with steadfast resilience.
Dillon intends to serve as executive chair for a one-year term
and, with the board of directors, will continue to help guide
strategy while supporting Kimbell in his transition. In her eight
years as CEO, Dillon developed and nurtured the company’s winning,
inclusive culture and drove significant business growth, having
more than tripled market capitalization to more than $18 billion
today, doubled the retailers’ fleet of stores, more than doubled
its loyalty members and significantly drove its ecommerce
capabilities. During her tenure, Ulta Beauty joined both the
S&P and Fortune 500 listings and delivered total shareholder
return of 245%.
“Thanks to Mary’s outstanding leadership, the future is very
bright at Ulta Beauty,” said Kimbell. “Our dynamic business plays a
unique and important role in the beauty industry and in our guests’
lives – and we are committed to continue operating with deep
respect for that role while innovating and winning together.”
As part of this transition, Ulta Beauty’s current chair, Robert
DiRomualdo, will retire from the board after serving three years in
the role of chair and 17 years total on the board. The company also
announced Lorna Nagler, who has served on the board since 2009,
will become Lead Independent Director working with Dillon in her
executive chair role.
“On behalf of the board of directors, we are thankful for Mary’s
commitment and leadership which firmly established Ulta Beauty’s
culture and vaulted its financial performance and value creation
throughout her tenure as CEO,” said DiRomualdo. “One of Mary’s
greatest legacies is the exceptional leadership team she has built.
We look forward to her ongoing guidance and support as executive
chair and have full confidence that Dave is the ideal leader to
continue building the business, leading the industry and inspiring
associates, guests, partners and investors alike.”
Kimbell and Steelman will continue to partner with an
experienced and diverse executive team, which will be 60% women and
20% people of color. The Ulta Beauty executive team consists of
Scott Settersten, chief financial officer; Jeff Childs, chief human
resources officer; Jodi Caro, general counsel and chief compliance
officer; Elliott Rodgers, chief information officer; Amiee
Bayer-Thomas, chief supply chain officer; Shelley Haus, chief
marketing officer; Monica Arnaudo, chief merchandising officer; and
Prama Bhatt, chief digital officer.
All of the changes announced today will take effect following
the company's annual shareholders meeting scheduled for June 2,
2021.
About Ulta Beauty
At Ulta Beauty (NASDAQ: ULTA), the possibilities are beautiful.
Ulta Beauty is the largest U.S. beauty retailer and the premier
beauty destination for cosmetics, fragrance, skin care products,
hair care products and salon services. In 1990, the Company
reinvented the beauty retail experience by offering a new way to
shop for beauty – bringing together all things beauty, all in one
place. Today, Ulta Beauty has grown to become the top national
retailer offering the complete beauty experience.
Ulta Beauty was recently added to the Bloomberg Gender Equality
Index, which tracks the financial performance of public companies
committed to supporting gender equality through policy development,
representation and transparency. More information about Ulta
Beauty’s corporate responsibility efforts can be found at
http://ir.ultabeauty.com/Corporate-Responsibility/default.aspx.
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version on businesswire.com: https://www.businesswire.com/news/home/20210311005942/en/
Eileen Ziesemer Vice President, Public Relations
eziesemer@ulta.com (708) 305-4479
Kiley Rawlins Vice President, Investor Relations
krawlins@ulta.com (331) 757-2206
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