Michaels Companies’ CEO Ashley Buchanan to Step Down in January 2025

Ashley Buchanan, the current CEO of Michaels Companies, the leading arts-and-crafts retailer, has announced his decision to step down from his role. This change will be effective as of January 15, 2025. Buchanan will also be resigning from his position as a member of the company’s board of directors.

Buchanan’s tenure at Michaels Companies has been marked by significant efforts to navigate the retail landscape, particularly in the wake of the COVID-19 pandemic. His departure comes at a time when the company is continuing to adapt to changing consumer behaviors and market conditions.

The announcement has sparked interest in who will succeed Buchanan and how the transition will impact the company’s future strategies. Michaels Companies will likely provide more details on the succession plan in the coming weeks.