CEO Dave Kimbell is stepping down effective immediately, Ulta said Monday, and will stay on as an advisor through June 28.

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

Cosmetics retailer Ulta Beauty said on Monday insider Kecia Steelman will replace retiring CEO Dave Kimbell in the top role, and forecast a strong fourth quarter, sending its shares up about 2% in extended trading.

Ulta Beauty ( NASDAQ: ULTA) CEO Dave Kimball announced his retirement on Monday and will step down as the company’s chief executive and board member. He will be replaced by the company’s COO Kecia Steelman. Kimball will remain at the company to serve as an adviser through June 28.

Ulta Beauty has named Kecia Steelman as its chief executive, succeeding David Kimbell, as the company aims to reaccelerate its growth amid a global slowdown in the beauty market.

Steelman, who is currently chief operating officer at the beauty retailer, will step into the role as Dave Kimbell retires.

Ulta said in a news release that the leadership changes take effect on Monday. Steelman will also replace Kimbell on