Dave Kimbell, chief executive officer of Ulta Beauty, stepped down on Monday, surprising many industry insiders. Kecia Steelman, president and chief operating officer, will succeed him as president and CEO and will join the company’s board. Kimbell will serve as an adviser to the company through June 28.

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 CEO Dave Kimbell will retire and Kecia Steelman, current President and COO, has been named as his successor.

US retailer Ulta Beauty has promoted Kecia Steelman to president and CEO, effective immediately. She replaces Dave Kimbell, who is retiring after an 11-year tenure. He is also stepping down from the company’s board of directors, but will stay on as an advisor to Ulta Beauty through 28 June.

Ulta Beauty said on Monday Dave Kimbell will retire as CEO and will be succeeded by President and Chief Operating Officer Kecia Steelman. Kimbell is stepping down after 11 years with the company, and will serve as an adviser through June 28.

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

Kecia Steelman succeeds Kimbell and his 11-year tenure.

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.