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Ulta Poaches U.S. Cellular CEO

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Ulta Salon, Cosmetics & Fragrance (NASDAQ: ULTA  ) can now remove the "interim" adjective from its CEO post. The company has appointed Mary Dillon to be its new chief executive, replacing fill-in CEO Dennis Eck. Dillon will officially take up her new position on July 1.

According to an SEC filing submitted by Ulta, Dillion will receive an annual base salary of $925,000, plus a signing bonus of $320,000. She will also be eligible for several performance-based incentives and other bonuses payable in stock and cash.

Prior to joining Ulta, Dillon was president, CEO, and a director of U.S. Cellular (NYSE: USM  ) . She had held those positions since June 2010.

Her departure was not a shock to that company. Today, it announced that, effective June 22, Kenneth Meyers will be its new president and CEO. Meyers moves over from U.S. Cellular's majority owner, TDS (NYSE: TDS  ) , where he served as executive vice president and CFO. He is also a director at that firm and at U.S. Cellular, where he had occupied numerous managerial positions since joining it in 1987.

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  • Report this Comment On June 24, 2013, at 10:26 PM, grahamsway wrote:

    This is interesting news for USM. Dillion had a pretty good package there and the sudden departure isn't usual.

    The TDS CFO taking over and TDS consolidating the CFO function is also interesting.

    Maybe it means something, maybe not but it is intriguing.

    I did a fool blog post on USM and TDS here:

  • Report this Comment On June 25, 2013, at 5:12 PM, Roadrunnerfox wrote:

    Nothing like absolutely destroying a company within 2 years of tenure and then jumping ship to receive another bloated salary and bonus from another company. US Cellular went down in almost every single metric while under the helm of Mary Dillon (stock price in particular). Whatever happened to pay for performance? Good luck Ulta. I hope Mary is better with cosmetics than she was in telecommunications.

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Related Tickers

9/28/2016 4:00 PM
ULTA $240.20 Down -3.46 -1.42%
Ulta Salon, Cosmet… CAPS Rating: ****
USM $37.25 Up +0.87 +2.39%
United States Cell… CAPS Rating: No stars