U.S. Cellular’s (NYSE:USM) chief executive, Mary Dillon, abruptly resigned this weekend so she could take the reins of beauty retailer Ulta Salon Cosmetics and Fragrance (NASDAQ:ULTA).
Dillon, 52, replaces interim CEO Dennis Eck, effective July 1. She previously served as CEO of U.S. Cellular, a $4 billion national wireless carrier, and as global chief marketing officer of McDonald’s (NYSE:MCD) from 2005 to 2010.
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“After conducting a thorough and robust search process, the board believes that Mary is the ideal person to lead Ulta Beauty as we enter our next phase of growth," Eck said.
Meanwhile, U.S. Cellular said it appointed chief financial officer of Telephone and Data Systems (NYSE:TDS), Kenneth Meyers, to CEO on Monday. After serving as CFO of TDS since 2007, his new position was effective June 22.
Meyers is a director of both U.S. Cellular and TDS, the majority owner of U.S. Cellular, and brings nearly three decades of experience with both companies, having joined U.S. Cellular in 1987.
"Ken Meyers brings outstanding operational and financial knowledge and proven leadership capabilities developed through his significant tenure with U.S. Cellular and TDS," TDS chief executive, LeRoy Carlson, said in a statement.
Shares of both TDS and U.S. Cellular slumped more than 1% in early trade following news of the management swap, while those of Ulta Beauty ticked slightly higher.