Chuck Rubin will step down as Ulta’s president and CEO – he is leaving to be the new CEO at arts and crafts specialty retailer, Michael’s Stores.

Ulta has named Dennis K. Eck, a non-executive chairman of Ulta’s board of directors, as Interim CEO.

Ulta is searching for Rubin’s permanent replacement, and formed a committee to help, comprised of: Eck, Robert R. DiRomualdo, Charles Heilbronn, and Kenneth T. Stevens. The team will also enlist the help of a leading executive recruiting firm.

Rubin said: “My choice to pursue an opportunity at another company was not easy, but I believe it is the right decision for me and my family. I have very much enjoyed my tenure as president and CEO at Ulta Beauty, working alongside some of the industry’s finest talent. I am proud of what we have accomplished together and am confident that the company will continue to drive value creation for shareholders and other important stakeholders through the execution of its growth strategy.”

Eck added: “Ulta Beauty has delivered exceptional sales growth and operating margin improvement through the successful execution of our multi-year growth strategy…”

He concluded, “Having served as a member of the Ulta Beauty Board since 2003, I have worked closely with management to develop our current strategy and am confident in our collective ability to lead the Company forward during this transition period.”