Michaels' Interim Office of the CEO members, left to right: Heather Bennett, Stacey Shively, and Perry Pericleous [Photos: LinkedIn]
The board of directors of Irving-based The Michaels Companies has established an interim Office of the Chief Executive Officer to provide ongoing leadership continuity after the previously announced departure of CEO Ashley Buchanan on Tuesday.
Effective Wednesday, Michaels said that Heather Bennett, president, Stacey Shively, chief merchandising officer, and CFO Perry Pericleous have been appointed to lead the interim Office of the 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,” Michaels Board Chairman Andrew Jhawar said 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 retailer said that working together with the other members of the executive leadership team, the three will manage Michaels’-to-day operations while the board completes the search for a permanent CEO.
As president of Michaels, Bennett is responsible for the company’s innovation and growth strategy. Since joining the company in 2021, she has led its digital transformation and successfully introduced new strategies to enhance customer experience, the company said.
Shively joined Michaels in September. 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 Michaels in December and brings 25 years of financial management and operations experience within retail. Before Michaels, he was the CFO of 99 Cents Only Stores.
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, founded in 1973, also owns Artistree, a manufacturer of custom and specialty framing merchandise, and MakerPlace by Michaels, a dedicated handmade goods marketplace.
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