Ulta Beauty said CEO Dave Kimbell is retiring after 11 years at the company, and will be replaced by COO Kecia Steelman.

Shares of Ulta Beauty ( ULTA -3.07%) were climbing higher last month after the beauty superstore chain posted better-than-expected results in its third-quarter earnings report, showing improvement on the bottom line, and that the worst of its market-share losses seemed to be behind it.

US retailer Ulta Beauty has promoted Kecia Steelman to president and CEO, effective immediately. She replaces Dave Kimbell, who is retiring after an 11-year tenure. He is also stepping down from the company’s board of directors, but will stay on as an advisor to Ulta Beauty through 28 June.

Ulta Beauty said on Monday Dave Kimbell will retire as CEO and will be succeeded by President and Chief Operating Officer Kecia Steelman. Kimbell is stepping down after 11 years with the company, and will serve as an adviser through June 28.

Ulta Beauty CEO Dave Kimbell is retiring and will be replaced by Kecia Steelman, the company's chief operating officer. Ulta also raised its fourth-quarter guidance, saying it expects modest growth of comparable sales. In a news release, the beauty retailer said the leadership changes are effective as of Monday.

This leadership change follows the retirement of Dave Kimbell, who has been with Ulta Beauty for eleven years.

Ulta Beauty shares are trading higher in Monday's after-hours session after the company announced a CEO transition and updated its near-term outlook.

Ulta Beauty CEO Dave Kimbell is stepping down, the company said Monday, as the cosmetics retailer looks to reignite sales momentum in the slumping beauty category. The stock was rising.Kecia Steelman,

Ulta Beauty announced that CEO Dave Kimbell will retire, with COO Kecia Steelman stepping in as CEO and joining the board effective immediately. The company also raised its fiscal fourth-quarter outlook due to stronger-than-expected holiday performance,