CEO Dave Kimbell is stepping down effective immediately, Ulta said Monday, and will stay on as an advisor 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 has named Kecia Steelman as its chief executive, succeeding David Kimbell, as the company aims to reaccelerate its growth amid a global slowdown in the beauty market.

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

Ulta Beauty CEO Dave Kimbell is retiring and will be replaced by Kecia Steelman, the company's chief operating officer. Ulta also hiked its fourth-quarter guidance. In a news release, the beauty retailer said the leadership changes are effective as of Monday.