Michaels Sets Temporary Leadership Team As CEO Search Continues

Michaels has established an interim office of the chief executive officer to provide ongoing leadership following the departure of CEO Ashley Buchanan. His departure was announced in November and is effective January 14.

Heather Bennett, president; Stacey Shively, chief merchandising officer; and Perry Pericleous, chief financial officer, have been appointed to lead the interim office of the CEO. They will manage the company's day-to-day operations while the board completes the search for a permanent CEO.

"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 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."

As president of Michaels, Bennett is responsible for the company's innovation and growth strategy. Since joining in 2021, she has led the company's digital transformation and successfully introduced new strategies to enhance customer experience.

Shively joined Michaels in September 2024. With more than 20 years of experience across the retail industry, she is known for her proven ability to maximize opportunities and market trends while driving profitable sales.

Pericleous joined the company in December 2024 and brings 25 years of financial management and operations experience within retail. Prior to Michaels, he served as the chief financial officer of 99 Cents Only Stores.