PHILADELPHIA, PA — Five Below, Inc. (NASDAQ: FIVE) has appointed former Ulta Beauty Chief Financial Officer Scott Settersten to its board and audit committee, adding a veteran retail finance executive as the company pursues its long-term growth strategy.
Settersten’s appointment took effect Sept. 21 and expands Five Below’s board to 10 directors.
Settersten served as Ulta Beauty’s chief financial officer from 2012 until his retirement in March 2024. His responsibilities included finance, accounting, tax, treasury, procurement, internal audit, investor relations, loss prevention and real estate.
The experience gives Five Below a director with more than a decade overseeing financial and operational functions at another growth-oriented retailer.
“His deep financial and operational expertise will be a valuable addition to our Board,” Five Below Board Chair Mike Devine stated, pointing to Settersten’s experience scaling a retail business while maintaining financial discipline.
Before Ulta, Settersten spent 15 years with PricewaterhouseCoopers LLP as a certified public accountant in its assurance and risk management practices.
He also served on the board of Kimball International from July 2020 through June 2023 and was a member of its audit committee.
Settersten identified Five Below’s growth strategy as a focus of his new board role, stating that he plans to work with directors and management to build on the retailer’s momentum and create long-term shareholder value.
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