Shares of Ulta Beauty Inc. ran higher after hours on Monday after the beauty-products chain appointed a key player in its recently announced comeback plans as its new chief executive and boosted its fourth-quarter outlook.

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

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.

Ulta Beauty’s CEO Dave Kimbell is retiring after 11 years with the US beauty retailer. Kimbell will also step down from the company’s board of directors, but will serve as an advisor until 28 June 2025. Kecia Steelman, President and Chief Operating Officer, will succeed Kimbell.

Key Takeaways Ulta Beauty said CEO Dave Kimbell is retiring after 11 years at the company, effective Monday.Kimbell will be succeeded by Chief Operating Officer Kecia Steelman.The cosmetics retailer also said it expects its fourth-quarter operating margin to land above the high end of its previously estimated range.

Shares of Ulta Beauty were up 0.97% in after-hours trading session on Monday as the specialty retailer announced its CEO Dave Kimbell will step down from his post, with retail sentiment staying bearish.