Yesterday, Ulta Beauty’s chief financial officer, Paula Oyibo, has officially departed from the company, as announced by Ulta on Wednesday. In her place, Chris Lialios, who currently serves as the senior vice president and controller, steps in as interim CFO with immediate effect. This transition comes amidst Ulta’s ongoing search for a permanent successor externally.
Lialios boasts over 25 years with Ulta, having joined in 1999 as assistant controller before assuming roles of increasing responsibility, including his current oversight of financial reporting, internal controls, and accounting policy as senior vice president. Ulta’s President and CEO, Kecia Steelman, expressed confidence in Lialios, highlighting his extensive experience and leadership within the company as pivotal during this transitional period.
Ulta Beauty has seen several changes within its C-suite this year, with Steelman assuming the CEO role earlier, succeeding Dave Kimbell. Other notable appointments include Kelly Mahoney as chief marketing officer, Lauren Brindley as chief merchandising and digital officer, Amiee Bayer-Thomas as chief retail officer, and Mike Maresca as chief technology and transformation officer.
Reflecting on her departure, Oyibo expressed pride in the team’s achievements and reaffirmed her belief in Ulta Beauty’s readiness to execute its strategic plan, “Ulta Beauty Unleashed.” The company also reaffirmed its fiscal 2025 guidance, maintaining expectations for comparable store sales growth and diluted earnings per share.
Analysts, such as Ashley Helgnas from Jefferies, anticipate that the market will favor an external hire for Oyibo’s permanent replacement, amidst ongoing category trends and management adjustments within Ulta Beauty.
