CEO Dave Kimbell is stepping down effective immediately, Ulta said Monday, and will stay on as an advisor through June 28.

This leadership change follows the retirement of Dave Kimbell, who has been with Ulta Beauty for eleven years.

Cosmetics retailer Ulta Beauty said on Monday insider Kecia Steelman will replace retiring CEO Dave Kimbell in the top role, and forecast a strong fourth quarter, sending its shares up about 2% in extended trading.

Kecia Steelman named President and Chief Executive Officer of Ulta Beauty. (Photo: Business Wire)

Ulta Beauty announced CEO Dave Kimbell's retirement Monday, but JPMorgan analysts don't see the transition as a negative for the cosmetics retailer.

Ulta Beauty has named Kecia Steelman as its chief executive, succeeding David Kimbell, as the company aims to reaccelerate its growth amid a global slowdown in the beauty market.

CEO Dave Kimbell is stepping down effective immediately, Ulta said Monday, and will stay on as an advisor through June 28.

Ulta Beauty CEO Dave Kimbell is retiring and will be replaced by Kecia Steelman, the company's chief operating officer. Ulta also hiked its fourth-quarter guidance. In a news release, the beauty retailer said the leadership changes are effective as of Monday.

Ulta Beauty announced that CEO Dave Kimbell will retire, with COO Kecia Steelman stepping in as CEO and joining the board effective immediately. The company also raised its fiscal fourth-quarter outlook due to stronger-than-expected holiday performance,