[Update as of Feb. 19, 2025] Michaels has selected former Staples Canada CEO David Boone as its new Chief Executive, following the departure of CEO Ashley Buchanan, who left to lead Kohl’s earlier this year.
Boone — whose appointment will take effect Feb. 28, 2025 — is currently the interim CEO of wholesale, ecommerce and 3PL company Essendant. During his tenure as CEO of Staples Canada, Boone led a six-year transformation, redefining the retailer’s customer experience, expanding its merchandise offerings and scaling its services and B2B businesses through acquisitions and strategic partnerships.
“As we enter an exciting period of opportunity for Michaels, we are pleased to welcome David to the company,” said Andrew Jhawar, Chairman of the Michaels board. “David is a proven business leader with the strategic vision, customer focus and vast retail experience to continue to drive Michaels forward.”
Original story from Jan. 16, 2025 begins-
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Michaels Appoints Trio of Interim Leaders as CEO Search Continues
Michaels’ board of directors has established an interim Office of the CEO that will be led by three of the retailer’s existing leaders, as the company continues to search for a replacement for former CEO Ashley Buchanan.
Michaels’ current President, Heather Bennett; Chief Merchandising Officer, Stacey Shively; and CFO Perry Pericleous will jointly lead the interim Office of the CEO, working together with the other members of the executive leadership team to manage the company’s day-to-day operations and ensure continuity while the search for a permanent CEO is underway.
“Heather, Stacey and Perry are experienced, accomplished executive leaders who are well-equipped to ensure the ongoing execution of the company’s strategic plan,” said Andrew Jhawar, Chairman of the board of directors at Michaels in a statement. “At the same time, the board is making great progress on the search for a permanent CEO, the results of which we expect to announce in the near future.”
The leadership shifts at Michaels come as fellow craft retailer Joann filed for bankruptcy, again, on Jan. 15, its second Chapter 11 filing in the last 12 months. Joann is now seeking a buyer to remain in business.
