Shares of Ulta Beauty Inc. ran higher after hours on Monday after the beauty-products chain appointed a key player in its recently announced comeback plans as its new chief executive and boosted its fourth-quarter outlook.

Ulta Beauty CEO Dave Kimbell is retiring and will be replaced by Kecia Steelman, the company's chief operating officer. Ulta also raised its fourth-quarter guidance, saying it expects modest growth of comparable sales.

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.

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

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Investing.com -- Ulta Beauty Inc (NASDAQ: ULTA) said on Monday that its Chief Executive Officer Dave Kimbell will retire after 11 years and will step down from the company’s board.

Key Takeaways Ulta Beauty said CEO Dave Kimbell is retiring after 11 years at the company, effective Monday.Kimbell will be succeeded by Chief Operating Officer Kecia Steelman.The cosmetics retailer also said it expects its fourth-quarter operating margin to land above the high end of its previously estimated range.