The Michaels Companies Appoints David Boone as Chief Executive Officer

Accomplished Retail Executive to Lead Next Phase of Innovation and Growth for North America's Leading Creative Destination

IRVING, Texas, Feb. 18, 2025 /PRNewswire/ -- The Michaels Companies, Inc. ("Michaels" or the "Company") today announced that David Boone has been named Chief Executive Officer, effective February 28, 2025. Mr. Boone 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."

Mr. 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. Mr. Boone holds a Bachelor of Commerce from McMaster University and an MBA from Kellogg (Northwestern) and Schulich (York University).

About The Michaels Companies, Inc.

At The Michaels Companies Inc, our purpose is to fuel the joy of creativity. As the leading creative destination in North America, we operate over 1,300 stores in 49 states and Canada and online at Michaels.com and Michaels.ca. The Michaels Companies, Inc. also owns Artistree, a manufacturer of custom and specialty framing merchandise, and MakerPlace by Michaels, a dedicated handmade goods marketplace. Founded in 1973 and headquartered in Irving, Texas, Michaels is the best place for all things creative. For more information, please visit www.michaels.com.

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SOURCE The Michaels Companies, Inc.