Five Below, Inc. (NASDAQ: FIVE) appointed Scott Settersten, former chief financial officer of Ulta Beauty, to its board of directors and audit committee, effective September 21, 2026, according to a press release. The appointment expands Five Below's board to ten directors.

Settersten served as CFO of Ulta Beauty from 2012 until his retirement in March 2024, where he oversaw finance, accounting, tax, treasury, procurement, internal audit, investor relations, loss prevention, and real estate. Before Ulta Beauty, he spent 15 years at PricewaterhouseCoopers LLP as a certified public accountant in assurance and risk management. He also served as a director and audit committee member of Kimball International from July 2020 to June 2023.

Mike Devine, chair of the Five Below board, said Settersten's "deep financial and operational expertise will be a valuable addition to our Board."

Five Below operates more than 2,000 stores across 47 states and is headquartered in Philadelphia, Pennsylvania.