Ulta Beauty Names Mary Dillon Chief Executive Officer

  Ulta Beauty Names Mary Dillon Chief Executive Officer

Business Wire

BOLINGBROOK, Ill. -- June 24, 2013

Ulta Beauty (NASDAQ:ULTA), today announced that its Board of Directors has
unanimously appointed Mary Dillon as Chief Executive Officer and a member of
the Board of Directors, effective July 1, 2013. Interim Chief Executive
Officer Dennis Eck will step down from his role at that time.

Mary Dillon, Chief Executive Officer of Ulta Beauty (Photo: Business Wire)

Mary Dillon, Chief Executive Officer of Ulta Beauty (Photo: Business Wire)

“After conducting a thorough and robust search process, the Board believes
that Mary is the ideal person to lead Ulta Beauty as we enter our next phase
of growth,” said Dennis Eck, Interim Chief Executive Officer of Ulta Beauty.
“Mary brings strategic vision, a rich consumer marketing background, strong
operational experience, and a passion for the customer. Her experience with
developing national brands, her expertise in the digital world, and her track
record in building strong teams will all be important assets for Ulta Beauty.
After spending the last several months working closely with the management
team, I am certain that Mary will be an excellent cultural fit for the
organization and lead Ulta Beauty to the next level.”

“With nearly three decades of experience leading consumer-driven businesses,
Mary has the necessary leadership skills, experience as a public company CEO,
and keen understanding of how to execute a successful digital strategy that
will complement Ulta Beauty’s talented team to drive continued growth and
success,” said Ken Stevens, Ulta Beauty’s Non-Executive Chairman of the Board.

Dillon, 52, joins Ulta Beauty from U.S. Cellular, where she served as
President and Chief Executive Officer and a Director since June 2010. At U.S.
Cellular, a $4 billion national wireless carrier with operations in 26 states,
5.1 million customers and a network of 1,300 stores, Dillon led the company to
develop new channels of distribution and revenue initiatives, implement an
omni-channel strategy, and strengthen e-commerce platforms. By delivering an
excellent wireless experience through an array of industry-first initiatives
that reward loyalty and inspire customer advocacy, Dillon and her team were
instrumental in creating an exceptional customer experience that was
recognized by several leading consumer ratings organizations. During her
tenure, she drove improvements in marketing execution, created an innovation
process, and strengthened relationships with key vendors to deliver more
competitive offerings and launches.

“I am delighted to be joining a company with such a strong track record and
tremendous growth opportunities and am excited to be part of the dynamic
beauty industry,” said Dillon. “Ulta Beauty has set itself apart in the
industry – it has always placed a real premium on the customer experience
while simultaneously innovating and adapting to changes in the market. The
Company is well positioned for the future and I look forward to working
closely with Ulta Beauty’s excellent leadership team and 16,000 dedicated
associates to build on its proven growth strategies.”

About Mary Dillon

Dillon joins Ulta Beauty from U.S. Cellular, where she served as President and
Chief Executive Officer and a Director since June 2010. From 2005 to 2010,
Dillon served as Global Chief Marketing Officer and Executive Vice President
for McDonald's Corporation. Prior to joining McDonald's, Dillon was an
executive at PepsiCo, where she held various positions of increasing
responsibility, including President of the Quaker Foods division.
Additionally, Dillon served as a member of the Board of Directors for Target
Corporation since 2007, and served as Chair and Executive Committee member for
CTIA – The Wireless Association. Dillon received a bachelor of science in
Marketing and Asian Studies from the University of Illinois at Chicago.

About Ulta Beauty

Ulta Beauty is the largest beauty retailer that provides one-stop shopping for
prestige, mass and salon products and salon services in the United States.
Ulta Beauty provides affordable indulgence to its customers by combining
unmatched product breadth, value and convenience with the distinctive
environment and experience of a specialty retailer. Ulta Beauty offers a
unique combination of over 20,000 prestige and mass beauty products across the
categories of cosmetics, fragrance, haircare, skincare, bath and body products
and salon styling tools, as well as salon haircare products. Ulta Beauty also
offers a full-service salon in all of its stores. As of May 4, 2013, Ulta
operates 576 retail stores across 46 states and also distributes its products
through the Company’s website: www.ulta.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of
Section 21E of the Securities Exchange Act of 1934, as amended, and the safe
harbor provisions of the Private Securities Litigation Reform Act of 1995,
which reflect our current views with respect to, among other things, future
events and financial performance. You can identify these forward-looking
statements by the use of forward-looking words such as “outlook,” “believes,”
“expects,” “plans,” “estimates,” or other comparable words. Any
forward-looking statements contained in this press release are based upon our
historical performance and on current plans, estimates and expectations. The
inclusion of this forward-looking information should not be regarded as a
representation by us or any other person that the future plans, estimates or
expectations contemplated by us will be achieved. Such forward-looking
statements are subject to various risks and uncertainties, which include,
without limitation: the impact of weakness in the economy; changes in the
overall level of consumer spending; changes in the wholesale cost of our
products; the possibility that we may be unable to compete effectively in our
highly competitive markets; the possibility that our continued opening of new
stores could strain our resources and have a material adverse effect on our
business and financial performance; the possibility that new store openings
and existing locations may be impacted by developer or co-tenant issues; the
possibility that the capacity of our distribution and order fulfillment
infrastructure may not be adequate to support our recent growth and expected
future growth plans; the possibility of material disruptions to our
information systems; weather conditions that could negatively impact sales;
our ability to attract and retain key executive personnel; our ability to
successfully execute and implement our common stock repurchase program; and
other risk factors detailed in our public filings with the Securities and
Exchange Commission (SEC), including risk factors contained in our Annual
Report on Form 10-K for the fiscal year ended February 2, 2013. Our filings
with the SEC are available at www.sec.gov. The Company does not undertake to
publicly update or revise its forward-looking statements, whether as a result
of new information, future events or otherwise.

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Ulta Beauty
Company Contacts:
Scott Settersten
Chief Financial Officer
(630) 410-4807
Laurel Lefebvre
Vice President, Investor Relations
(630) 410-5230
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