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New CFO in at Ulta
Posted: August 22, 2012
Ulta Beauty announced the appointment of Bruce L. Hartman as the company's new CFO, effective Sept. 7, 2012. Hartman is an experienced CFO with extensive financial and operational expertise in retailing, consumer products and real estate. He most recently served as executive vice president, chief administrative officer and CFO of The Yankee Candle Company. Prior to joining Yankee Candle in 2008, Hartman was the executive vice president and CFO of Cushman & Wakefield from 2006 to 2008.
Hartman also is a retail industry veteran, having served in a variety of senior leadership roles at Foot Locker, Inc. from 1996 to 2005. He was named CFO there in 1999, with responsibility for all finance functions including investor relations, information services, corporate shared services, security, real estate, and logistics. During his tenure, Foot Locker gained market share, drove consistent earnings growth, executed aggressive expense reduction programs, and integrated several acquisitions, resulting in significant shareholder value creation. By 2005, Foot Locker was the world’s leading athletic apparel retailer with $5.5 billion in sales and 4,000 stores in 17 countries.
Previously, Hartman spent ten years with the May Department Stores, in CFO and controller roles with Filene’s, Famous-Barr, Robinsons-May, Lord & Taylor, and G. Fox & Company. He also has been a member of the board of directors of Rue21, Inc. since 2010. He previously served as a director of Pathmark Supermarkets from 2004 to 2007, as well.
At Ulta, Hartman will succeed Gregg Bodnar, who has held the role of CFO at the company since 2006. In March, Bodnar announced his plans to step down from his position to allow him to relocate to Michigan to attend to a family health issue, and to remain in the position to assist in the hiring and onboarding of a new CFO. He will step down as CFO on Sept. 6, 2012 and will continue to work with Ulta to ensure a smooth transition.
“We are thrilled that an experienced CFO of Bruce’s caliber is joining the Ulta leadership team,” said Chuck Rubin, Ulta's president and CEO. “His long tenure as a public company CFO, his successful career in a broad range of industries, his strong strategic skills, and his track record in driving sales and profit make him a tremendous asset to our organization. As Ulta matures from a 500-store retailer to a 1,200-store business over the coming years, Bruce’s significant expertise in scaling businesses and real estate will be extremely valuable in helping our company expand its leadership in the beauty industry.”
“I am delighted to be joining Ulta at such an exciting time in the company’s history, and I am impressed with the company’s market position and the passion and talent of the associates. I look forward to partnering with Chuck and the Ulta team to execute our long term growth strategies,” said Hartman.