Michaels Names New CEO

Michaels has named David Boone its new chief executive officer, effective February 28. He will also serve on the company's board of directors.

"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 board of directors. "David is a proven business leader with the strategic vision, customer focus and vast retail experience to continue to drive Michaels forward."

"I am honored to join Michaels, an iconic retailer and the leading creative destination for millions of customers across North America," said David Boone. "I am excited about the tremendous opportunity to continue to build on the momentum to drive long-term growth and deliver a best-in-class customer experience."

Boone is currently the interim CEO of Essendant, a wholesale, e-commerce and 3PL company. He previously served as CEO of Staples Canada where he led a six-year transformation, redefining its retail experience, expanding merchandise offerings, and scaling its services and B2B businesses through acquisitions and strategic partnerships. 

Before Staples, he held leadership roles at TD Bank USA, driving growth in financial services for major U.S. retailers. He also held a variety of executive positions during his 16 years at Loblaw Companies, Canada's largest retailer, where he led its National Wholesale Club Division and played a key role in merchandising strategy and category management across several businesses.