Michaels Names Cosby Interim CEO

The Michaels Companies has appointed Mark Cosby as interim CEO and board member. Cosby succeeds Chuck Rubin, who has mutually agreed with the board of directors to transition out of his role as CEO.

Rubin will continue as chairman of the board of directors until April 1, 2019. The board has initiated a search to identify a permanent CEO.

Cosby joins Michaels following a 30-year career at a number of retail chains, most recently serving as president, North America at Office Depot. Prior to joining Office Depot, Mr. Cosby served as president, retail at CVS Caremark Corporation. Prior to CVS, Cosby spent five years at Macy’s, where he served in several executive roles, including president, stores.

“We thank Chuck for his leadership for the past six years and his commitment to improving the customer experience, reinforcing our financial strength and investing in new digital capabilities,” said James Quella, lead director of the board of directors of The Michaels Companies. “We look forward to working with Mark and the management team to continue to offer an environment that nurtures creativity and encourages customers to shop, create and connect with other makers.”

In addition, the company has appointed Philo Pappas as interim president, merchandising and supply chain. Pappas has been with the company since 2009, most recently serving as president, Michaels stores procurement company and formerly serving as evp/merchandising.