THE WHAT? Ulta Beauty has announced that Scott Settersten is set to retire as Chief Financial Officer, effective April 1, 2024 and Paula Oyibo, SVP Finance, will succeed him, reporting to Dave Kimbell, CEO.

THE DETAILS Oyibo joined Ulta Beauty as Vice President of Finance for Merchandise, Marketing, and eCommerce in 2019. In her current role, she oversees the Financial Planning & Analysis, Treasury and Non-Merchandise Procurement functions. Prior to joining Ulta Beauty, Oyibo served in finance and controller roles at Whirlpool Corporation and in senior level auditing and consulting positions with PwC.

THE WHY? Kimbell comments, “Since joining Ulta Beauty in 2019, Paula has established herself as a trusted partner and visionary leader, particularly as we navigated the pandemic, ultimately helping the Company emerge in a position of leadership and strength. Her deep knowledge and understanding of our business, experience leading finance organizations, and strong commitment to nurturing talent and an inclusive culture make her the ideal person to serve as Ulta Beauty’s next CFO.”