The Michaels Companies Names New CFO

Gina Acosta
Executive Editor
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The Michaels Companies Names New CFO
Michael Diamond served as CFO for Pizza Hut's U.S. market.

The Michaels Companies has added new expertise to its c-suite to position the company for sustainable, long-term growth.

The arts and crafts retailer has named Michael Diamond as its new chief financial officer, effective Sept. 1. Diamond will report directly to CEO Ashley Buchanan.

“Throughout his career, Mike has demonstrated the ability to streamline and integrate financial operations while successfully moving strategic initiatives forward," Buchanan said. "His experience will play a pivotal role in supporting our ongoing efforts to position Michaels for sustainable, long-term growth.”

With over 15 years of experience leading finance functions, Diamond is known for driving transformational growth beyond financial results, developing and executing strategic initiatives.

Most recently, Diamond served as CFO for Pizza Hut's U.S. market. His background includes several leadership positions including CFO for Pizza Hut’s European market, chief growth officer for Pizza Hut’s European and United Kingdom business and director of strategy for Pizza Hut International. Prior to joining Pizza Hut, Diamond served in roles at The Boston Consulting Group, Svoboda Capital Partners and Merrill Lynch & Co.

“Michaels is the leader in the arts and crafts category, and I am eager to be joining the team as their Maker strategy and supporting initiatives are advancing, positioning the company for growth and market share gains,” Diamond said. “I look forward to working with the talented leadership team to help continue to drive performance across the organization and position the company for long-term success.”

Throughout his career, Diamond has led teams in both the U.S. and Europe across multiple industry verticals spanning finance, strategy, development, business analysis, supply chain, technology and legal.

Michaels has been making transformational moves as it looks to turn around its business. The retailer recently expanded its reward programs as loyalty continues to increase in importance for retailers.

The Michaels Companies Inc. operates more than 1,270 Michaels stores in 49 states and Canada.