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Ulta Beauty Names New CEO – Shares Higher

Ulta Beauty (NASDAQ: ULTA) shares are trading up 1.7 percent in mid-day trading after the company names a new CEO, according to a company press release.

On a day where markets are down sharply following a terrible performance last week, Ulta Beauty is up nearly 2 percent. The company announced that it has appointed Mary Dillon as CEO and member of the board of directors effect July 1. Interim CEO Dennis Eck will step down from his position at that time.

“After conducting a thorough and robust search process, the Board believes that Mary is the ideal person to lead Ulta Beauty as we enter our next phase of growth,” said Dennis Eck, Interim Chief Executive Officer of Ulta Beauty. “Mary brings strategic vision, a rich consumer marketing background, strong operational experience, and a passion for the customer. Her experience with developing national brands, her expertise in the digital world, and her track record in building strong teams will all be important assets for Ulta Beauty. After spending the last several months working closely with the management team, I am certain that Mary will be an excellent cultural fit for the organization and lead Ulta Beauty to the next level.”

Dillon, 52, comes from U.S. Cellar where she served as President and CEO. Dillon, on Monday, resigned from her position on Target’s (NYSE: TGT) Board of Directors.

Disclosure: At the time of this writing, the author had no position in the mentioned equity.

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