01—Abstract
Summary
Summary of the 8-K filed June 30, 2025. Cited figures are marked; the original filing is the authoritative source.
Ulta Beauty, Inc. (NASDAQ: ULTA) filed this Form 8-K on June 30, 2025 to disclose a change in its finance leadership.
Effective June 24, 2025, Paula Oyibo, the company's former Chief Financial Officer, Treasurer, principal financial officer and principal accounting officer, left the company. Christopher Lialios, Senior Vice President Controller since 2018, was named Interim Chief Financial Officer and principal financial and accounting officer. The company has commenced an external search for a permanent CFO with the assistance of a leading executive search firm.
Lialios, 60, is a Certified Public Accountant who joined Ulta Beauty in 1999 as assistant controller. While serving as Interim CFO, his annualized base salary will be $525,000,a and his annual cash incentive target will be 100% of base salary. The filing states there are no arrangements or understandings under which he was appointed and no related-party transactions requiring disclosure under Item 404(a) of Regulation S-K.
In conjunction with the announcement, made in a June 25, 2025 press release (Exhibit 99.1), the company reaffirmed its fiscal 2025 guidance from its May 29, 2025 release. That guidance calls for comparable store sales growth between 0% and 1.5%, operating margin between 11.7% and 11.8%, and diluted EPS between $22.65b and $23.20. Investors will likely focus on the pace of the permanent CFO search and whether the leadership transition affects execution of the Ulta Beauty Unleashed plan.
02—Key points
Key Highlights
- Paula Oyibo, former CFO, Treasurer, principal financial officer and principal accounting officer, left the company effective June 24, 2025.
- Christopher Lialios, Senior Vice President Controller since 2018, became Interim CFO, principal financial officer and principal accounting officer effective June 24, 2025.
- Interim CFO annualized base salary is $525,000, with an annual cash incentive target of 100% of base salary.
- The company has commenced an external search for a permanent CFO with the assistance of a leading executive search firm.
- Fiscal 2025 guidance was reaffirmed: comparable store sales growth of 0% to 1.5%, operating margin of 11.7% to 11.8%, and diluted EPS of $22.65 to $23.20.
- Lialios joined Ulta Beauty in 1999 as assistant controller and is a Certified Public Accountant.
- CEO Kecia Steelman stated the company is confident the interim arrangement will ensure a smooth transition while executing the Ulta Beauty Unleashed plan.
03—Questions
Frequently Asked Questions
Who is now running the finance function at Ulta Beauty?
Christopher Lialios, Senior Vice President Controller, serves as Interim Chief Financial Officer and is the principal financial officer and principal accounting officer, effective June 24, 2025. He has been with the company since 1999 and has overseen financial reporting, internal controls and accounting policy as Controller since 2018.
Is the company searching for a permanent CFO?
Yes. The company has commenced an external search for a permanent Chief Financial Officer with the assistance of a leading executive search firm. The filing does not state a timeline for the search.
How is the Interim CFO being compensated?
While serving as Interim CFO, Lialios's annualized base salary will be $525,000, and his annual cash incentive target will be 100% of his base salary.
Did the leadership change affect the company's outlook?
No change was announced. In the June 25, 2025 press release, the company reaffirmed its fiscal 2025 guidance from May 29, 2025, including comparable store sales growth of 0% to 1.5%, operating margin of 11.7% to 11.8%, and diluted EPS of $22.65 to $23.20.
Why did the former CFO leave?
The filing states only that Paula Oyibo has left the company effective June 24, 2025. Her press release quote thanks the company for the opportunity to serve as CFO and states she is proud of the team's accomplishments. No reason for her departure is given.
04—Continue