Chuck Rubin is Leaving Ulta Beauty

WWD reported that Chuck Rubin is stepping down as president and CEO of Ulta Beauty to become CEO of arts and crafts retailer Michaels Stores Inc.

As the company looks for a permanent replacement, non-executive chairman Dennis Eck will take over in the interim. The firm's board has gotten the process started by setting up a search committee and retaining a recruiter.

"My choice to pursue an opportunity at another company was not easy, but I believe it is the right decision for me and my family," Rubin said. "I have very much enjoyed my tenure as president and ceo at Ulta Beauty."

"Ulta Beauty's Board is committed to conducting a thorough and comprehensive search to identify the best candidate to serve as our next ceo," Eck said. "Having served as a member of the Ulta Beauty Board since 2003, I have worked closely with management to develop our current strategy and am confident in our collective ability to lead the company forward during this transition period," he said.