Walmart Online Executive Named CEO at Michael’s

Michael's, a leading arts-and-crafts and home decor supply store.

Another Walmart U.S. e-commerce executive is leaving the company.

The Michaels Companies Inc. of Irving, Texas, announced Friday that Ashley Buchanan, the retailer’s chief merchandising officer and COO for U.S. e-commerce, would become its president and CEO designate effective Jan. 6.

Buchanan, who had been with Walmart since 2007, will also join Michaels board of directors. He will succeed Mark Cosby as CEO after a transition period that ends April 1. Cosby will remain on the company’s board after leaving the CEO post, the company said in a news release.

“Ashley is a world-class executive who has demonstrated the ability to redefine customer experiences and drive growth at the world’s largest retailer, and we are confident that he will be successful in leading Michaels forward,” said James Quella, chairman of The Michaels Companies (Nasdaq: MIK) board of directors. 

Buchanan has served in various roles at Walmart. Before joining the U.S. e-commerce team, he was the chief merchant at Sam’s Club. Before joining Walmart, he was an executive at personal computer-maker Dell.

“Michaels is an iconic brand, and I am excited about the tremendous opportunity we have in front of us to reimagine and redefine the experience of our Makers,” Buchanan said. “I believe we can engage them in innovative new ways and unleash the power of their inner maker. Our community is unique, and I am thrilled about the opportunity to lead our Makers centered strategy and help take Michaels to a whole new level.”

Word of Buchanan’s departure follows news that another Walmart e-commerce executive, Andy Dunn, would leave the company in the first quarter of the new year. Dunn joined the company when Walmart purchased men’s clothing online retailer Bonobos in 2017 for more than $300 million.