Ulta Beauty announces changes in Board of Directors
today Sep 25, 2018
Ulta Beauty, Inc. has announced that Charles J. Philippin will resign as the company's non-executive chairperson of the Board of Directors due to medical reasons. Robert F. DiRomualdo, a current director of the company, will replace him in the role.
As DiRomualdo takes his new position, Michael R. MacDonald will replace him as chair of the audit committee.
DiRomualdo is chairperson and chief executive officer of private investment company Naples Ventures, LLC, which he formed in 2002. Previously, he served in various roles at Borders Group, Inc., as a director of Gordon Brothers Group and a chairperson at Bill Me Later Inc.
Philippin held the role of principal of GarMark Advisors L.L.C. from May of 2002 until his retirement in February of 2008. He has previously served as chief executive officer of Accordia, Inc., and has been a director of Saks Holdings, Inc. and its subsidiary Saks since 1995. He has held his role at Ulta Beauty since 2014.
“On behalf of the Board of Directors and the entire team at Ulta Beauty, I would like to thank Charlie for his many contributions to the company,” said Mary Dillon, the company's chief executive officer, in a release. “We regret that medical issues prevent him from continuing his service and extend our best wishes to him and his family.”
Based in Illinois, Ulta has experienced a recent boom in sales thanks to its e-commerce platform. The beauty chain holds over 1,000 stores across the United States, and plans to open up to 100 new locations in the 2018 fiscal year.
The changes in the company's Board of Directors will take effect on September 30.
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