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Michaels Names Ulta's Rubin To CEO Post

Thursday February 14th, 2013 - 1:02PM

Michaels Stores, Inc. today announced the appointment of Chuck Rubin as Chief Executive Officer and a member of the Board of Directors. Rubin, currently the President and CEO of Ulta Beauty, will assume his new roles after a brief period of transition, at which time Michaels will discontinue the Office of the Chief Executive Officer, established on an interim basis in May 2012.  Charles "Chuck" Sonsteby, a member of the Office of the CEO, will continue as the Company's Chief Administrative Officer and Chief Financial Officer.

Rubin brings more than 30 years of retail industry experience, including serving as President, Chief Executive Officer and member of the Board of Directors for Ulta Beauty, where since 2010, he successfully led his team in driving record revenue and earnings growth, as well as creating significant shareholder value for the company.  He has held executive leadership positions at a number of leading retailers including Office Depot, Sportmart and Federated Department Stores.  He also served as a partner in Accenture's retail consulting practice and was a member of the executive committee of the National Retail Federation from 2007 to 2010.

"Michaels is an iconic brand and a category leader in the large and fragmented arts and crafts industry, with considerable potential moving forward," said Rubin.  "With its diverse product offering of industry defining brands and unique customer engagement strategy, Michaels has built a loyal customer base. I am honored and excited by the opportunity and look forward to working with the Company's talented management team and dedicated associates."

Michaels Stores, Inc. is North America's largest specialty retailer of arts, crafts, framing, floral, wall decor and seasonal merchandise for the hobbyist and do-it-yourself home decorator. As of February 14, 2013, the Company owns and operates 1,099 Michaels stores in 49 states and Canada, and 126 Aaron Brothers stores.