Irving, Texas — The Michaels Companies, Inc. has announced that Ashley Buchanan is stepping down from his role as chief executive officer and member of the board of directors, effective Jan. 15, 2025. The board of directors has already initiated a CEO search with leading executive search firm, Spencer Stuart.
“On behalf of the board and Michaels team members, I want to thank Ashley for his valuable contributions since he joined the company in 2020,” says Andrew Jhawar, chairman of the board. “Ashley has led Michaels through significant transformation, delivering on key strategic initiatives that have enabled sustainable and profitable growth. We look forward to working closely with Ashley to ensure a smooth transition over the next 2 months and wish him the best in his future endeavors.”
Founded in 1973 and headquartered in Irving, Texas, The Michaels Companies, Inc. operates more than 1,300 stores in 49 states and Canada and online at Michaels.com and Michaels.ca. The Michaels Companies, Inc. also owns Artistree, a manufacturer of custom and specialty framing merchandise, and MakerPlace by Michaels, a dedicated handmade goods marketplace. For more information, please visit www.michaels.com.
SOURCE: The Michaels Companies, Inc.