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Kohl’s chief leaving, Michael’s CEO taking role

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November 27, 2024

Kohl's CEO Tom Kingsbury will step down from his role come Jan. 15, 2025 and Ashley Buchanan, currently Michael's CEO, will take his place.

Buchanan has been at the helm of the arts and crafts retailer for four years. Kingsbury took an interim CEO role at Kohl's two years ago and then appointed to the role permanently, according to a CNN report .

Kingsbury replaced Kohl's chief Michelle Glass who left the apparel and home furnishings retailer to become CEO at Levi's.

Michael's Board of Directors has initiated a CEO search with leading executive search firm, Spencer Stuart, according to a press release.

"On behalf of the board and Michaels team members, I want to thank Ashley for his valuable contributions since he joined the company in 2020," Andrew Jhawar, chairman of the board of directors, said in the release. "Ashley has led Michaels through significant transformation, delivering on key strategic initiatives that have enabled sustainable and profitable growth. We look forward to working closely with Ashley to ensure a smooth transition over the next two months and wish him the best in his future endeavors."

The Michaels Companies Inc, operates over 1,300 stores in 49 states and Canada and online at Michaels.com and Michaels.ca.