After an 11-Year Tenure, Kimbell Is Succeeded by Current President and COO Kecia Steelman
Dave Kimbell has resigned as chief executive officer of Ulta Beauty, effective immediately, the company announced. Kecia Steelman, currently president and chief operating officer, has been appointed as the new president and CEO and will also join Ulta’s board. Kimbell will remain with the company in an advisory capacity through June 28.
Investors reacted favorably to the news of Kimbell’s departure, with Ulta’s stock price rising 3.9 percent to $448 in after-hours trading on Monday.
Lorna Nagler, chair of Ulta Beauty’s board of directors, expressed the board’s appreciation for Kimbell’s leadership. “On behalf of the board, we are grateful to Dave for his guidance, dedication, and integrity, and for the significant contributions he has made to Ulta Beauty,” Nagler said. “Dave has demonstrated a deep commitment to unlocking the power of beauty for our guests and advancing Ulta Beauty’s market leadership. He has played a meaningful role in shaping Ulta Beauty into the company we are today, and we appreciate his continued service as an adviser during this transition.”
Kimbell also shared his thoughts on his tenure. “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,” he stated. “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.”