Ulta Beauty’s Chief Financial Officer Paula Oyibo is exiting her post a little over a year after taking on the role.
The beauty giant announced on June 25 that Chris Lialios, senior vice president and controller since 2018, will step in as interim CFO, the Wall Street Journal reports. The company has not disclosed the reason behind Oyibo’s departure, which comes just months after she was promoted to chief financial officer in April 2024, following her 2019 arrival.
“It has been my honor to serve as CFO for Ulta Beauty,” said Oyibo. “I am extremely proud of our team’s accomplishments and believe Ulta Beauty is well-positioned to execute the Ulta Beauty Unleashed plan.”
At the time of her promotion to the C-Suite, Oyibo succeeded longtime CFO Scott Settersten. The company has launched an external search for a permanent CFO, working with a top executive search firm to identify potential candidates.
Lialios, Oyibo’s interim replacement, has served as Ulta Beauty’s Senior Vice President – Controller since 2018, overseeing financial reporting, internal controls, and accounting policy. He first joined the company in 1999 as an assistant controller and has since played a key role in leading finance transformation efforts and rising through the ranks. A Certified Public Accountant, Lialios holds a B.S. in Accounting from the University of Illinois, Chicago, and an M.B.A. from Webster University.
“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,” said Kecia Steelman, president and chief executive officer. “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.”
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