Beauty Industry

Ulta’s New CFO Resigns

The beauty retailer is searching for a replacement.

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By: Jamie Matusow

Editor-in-Chief

We reported when Bruce L. Hartman became Ulta Beauty’s new CFO, as of September 7th. Ulta now reports that Hartman has resigned, “by mutual agreement.” Scott Settersten has been appointed Acting Chief Financial Officer, effective immediately. However, the beauty retailer is searching for a permanent CFO to fill the position, and says that Settersten will be considered.

Chuck Rubin, Ulta Beauty’s president and CEO said, “We are fortunate to have Scott serve as acting chief financial officer. Scott’s exceptional finance and accounting experience will serve Ulta Beauty well as we move forward. During his seven years at Ulta Beauty, Scott has demonstrated a keen financial aptitude and excellent leadership and management capabilities. Scott is committed to serving as acting CFO where he will lead our experienced and dedicated finance team.”

The company also noted that Hartman’s resignation wasn’t related to any disputes, the retailer’s operational performance, financial condition, issues regarding the integrity of its financial statements or accounting policies and practices.

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