Irving, Texas — The Michaels Companies, Inc. has appointed seasoned retail executive Mark S. Cosby as interim CEO and board member, effective February 28, 2019. He succeeds Chuck Rubin, who has mutually agreed with the board to transition from CEO but continue as chairman of the board until April 1, 2019. The board has initiated a search to identify a permanent CEO.
Chuck Rubin
Irving, Texas — The Michaels Companies, Inc. has decided to close all of its Pat Catan’s stores in the fourth quarter of fiscal 2018. Pat Catan’s is a 36-store retail supplier of arts and crafts in Ohio and surrounding states. The company intends to rebrand up to 12 of the closed Pat Catan’s stores and reopen them under the Michaels banner.