Ulta Beauty announced on Wednesday that Paula Oyibo has stepped down as chief financial officer after just over a year in the role.
Longtime company executive Chris Lialios has been appointed as interim CFO while the retailer begins an external search for a permanent replacement.
Oyibo, who joined Ulta in 2019, was promoted to CFO in April 2024 following the retirement of former finance chief Scott Settersten.
Lialios, who has been with Ulta since 1999, has held a variety of roles in accounting and finance.
Despite the leadership change, Ulta reaffirmed its full-year guidance, maintaining its comparable sales growth target of up to 1.5% and earnings per share forecast of $22.65 to $23.20.
The company raised its annual profit target in May, citing strong demand for launches like Milk Makeup and K-Beauty skincare brands.
Shares were down about 1% in early trading on Wednesday.
Ulta stock is up 6% year-to-date, but has declined roughly 11% since Oyibo took over as CFO in April last year.
Click here to sign up to Retail Gazette‘s free daily email newsletter
