BOLINGBROOK, Ill. — Ulta has announced that it is implementing a CFO succession plan after Gregg Bodnar, the company’s CFO and assistant secretary, informed the company that because of a family health issue, he will be required to relocate to Michigan and will step down from his current position when a successor can be identified.
CEO Chuck Rubin and the company’s board, with the assistance of an executive search firm, will begin searching for a successor. In order to facilitate an orderly transition, Bodnar will remain in his present position pending the appointment of a successor and will assist in the transition. Bodnar joined Ulta as CFO in September 2006.
“While I regret that Gregg will be leaving the company later this year, I understand and respect his personal commitment to his family. Gregg has contributed greatly to Ulta, including building an excellent team that I am confident will maintain its strong performance. I am pleased that Gregg will continue in his current responsibilities and will assist in the successful hiring and onboarding of a new CFO,” stated Chuck Rubin, Ulta’s president and CEO.
Bodnar stated, “My decision to leave was made even more difficult given the strength of my relationship with Chuck, the management team and the board, and the confidence I have in the company’s strategy. I have enjoyed immensely being a part of the company’s success and look forward to its continued growth and remaining an investor in Ulta. However, I must attend to a family issue that requires me to relocate. I am confident that we have developed the strategy necessary to achieve a seamless transition. We have a very strong team in place across our organization, and I am dedicated to assisting Chuck and the board find the very best CFO and will remain in my position to provide an orderly succession.”