The Michaels Companies Inc. (MIK) said Tuesday that it had tapped its interim chief executive to take on that role permanently. Mark Cosby had been serving in the interim chief executive position since February 2019 and had stints at Office Depot Inc. (ODP), CVS Health Corp.'s (CVS) Caremark, and Macy's Inc. (M) prior to joining the crafts retailer. "The search committee conducted an exhaustive evaluation of many outstanding candidates and unanimously concluded that Mark brings the right strategic vision and operating skill to lead Michaels into a new chapter," Chairman James Quella said in a release. Michaels shares were inactive in premarket trading. The stock has tumbled 27% so far this year, while the S&P 500 has gained 20%.
-Emily Bary; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
October 22, 2019 08:04 ET (12:04 GMT)
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