Ulta Beauty appoints Chris Lialios as new Chief Financial Officer
Lialios steps into the role as the beauty retailer initiates an external search for a permanent successor.
USA – Ulta Beauty has announced the appointment of Chris Lialios as its interim Chief Financial Officer, following the departure of Paula Oyibo.
Lialios, a seasoned finance executive with over 25 years at the company, steps into the role effective immediately as the beauty retailer initiates an external search for a permanent successor.
Kecia Steelman, President and CEO of Ulta Beauty, stated, “Chris has been a respected leader on Ulta Beauty’s finance team for more than 25 years, and we are thankful to him for stepping into this important interim role as we conduct a search for our next CFO.”
“We’re confident that his deep familiarity with our business, coupled with his financial expertise and leadership style, will ensure a smooth transition as we continue to execute our Ulta Beauty Unleashed plan.”
Lialios has served as Senior Vice President and Controller since 2018, overseeing Ulta Beauty’s financial reporting, internal controls, and accounting policy.
His tenure with the company began in 1999 as assistant controller, during which he played a pivotal role in leading finance transformation initiatives.
His long-standing leadership within the finance organization positions him as a stabilizing force during this period of transition.
The leadership change comes amid a broader reshuffling of Ulta’s executive team, including recent appointments in marketing, merchandising, and technology.
Ulta Beauty appointed Lauren Brindley, former CEO of Revolution Beauty, as its new Chief Merchandising and Digital Officer, marking a pivotal move to unify its merchandising and digital strategies under one seasoned leader.
Q$ FY24 financial results
Ulta Beauty recently reported its financial performance for the Q4 FY24 despite a 1.9% net sales drop to USD 3.5 billion, attributed to the absence of an additional week of sales that benefited fiscal 2023.
Gross profit increased by 0.5% due to lower inventory shrinkage, favourable channel mix, and higher merchandise margin.
However, higher supply chain costs, lower other revenue, and reduced store and supply chain fixed costs partially offset this increase.
Operating income was USD 516.3 million, compared to USD 517.1 million in Q4 FY23.
Net income slightly declined to USD 393.3 million from USD 394.4 million.
The tax rates in Q4 FY24 decreased by 0.4%.
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