Ulta Beauty Names Interim CFO After Paula Oyibo’s Sudden Exit — Retail Investors Watch Warily

Ulta Beauty (ULTA) said on Wednesday that Chief Financial Officer Paula Oyibo is leaving, sending its shares down 1.2%. Chris Lialios, a senior vice president-controller, will take over as interim CFO immediately.  

The move comes as the industry grapples with uneven demand for consumer cosmetics, amid challenging economic conditions driven by inflation and U.S. trade tariffs.

Ulta didn't specify a reason for Oyibo's departure. She had joined the beauty products retailer in 2019 and was elevated to CFO in April last year. Ulta has begun its search for a new finance chief.

Announcing the executive change, the company also reaffirmed its annual comparable sales growth target of up to 1.5% and earnings per share forecast of between $22.65 and $23.20.

On Stocktwits, the retail sentiment for the company's shares climbed slightly within the 'bearish' territory.

Ulta shares are up 5.6% year-to-date. The company delivered better-than-expected results in the last quarter, led by fragrance sales. It noted that, for now, consumers are trimming spending in other areas while continuing to prioritize grooming.

The company is currently implementing what it calls "Ulta Beauty Unleashed." The strategic plan includes expanding personalization, investment in AI and tech, and increasing store footprint and brand partnerships.

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