Ulta Beauty has announced that David Kimbell, the company’s President, is taking over as Chief Executive Officer. Beginning June 2, Mary Dillon, the company’s CEO, will transition to the newly created role of Executive Chair of the Board of Directors. David will also be nominated by the Board of Directors to stand for election to the Board at the company’s June 2 Annual Meeting of Stockholders. Additionally, Kecia Steelman, the company’s Chief Store Operations Officer, will become the Company’s 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 Mary. “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.”
David 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.
Kecia was named Chief Store Operations Officer in September 2015, after having previously served as Senior Vice President, Store Operations since July 2014. Prior to joining Ulta Beauty, she was Group Vice President at Family Dollar Corporation from 2011 to 2014, after joining the company in 2009 as Vice President, Store Development and Store Operations.
Mary 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 David in his transition. In her eight years as CEO, Mary 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%