Rubin to Become Michaels CEO
February 15, 2013,
IRVING, Texas-Chuck Rubin, president and CEO of personal-care specialty retailer Ulta Beauty, will leave his post on Feb. 21 to become CEO of Michaels Stores.
Rubin will assume his new role "after a brief period of transition," according to a Michaels statement. When he does, Michaels will discontinue the Office of Chief Executive Officer, which it established last May on an interim basis after its then-CEO, John Menzer, suffered a stroke and went on a medical leave of absence.
The office was constituted by Lew Klessel, managing director of Bain Capital Partners, and Charles "Chuck" Sonsteby, Michaels' chief administrative officer and chief financial officer. With Rubin's hiring, Sonsteby will remain in his current roles.
Rubin joined Ulta in 2010 as chief operating officer, and assumed the president and CEO position later that year. Prior to joining Ulta, Rubin held executive posts with Office Depot, eventually becoming president of North American Retail. Prior to that, he was a partner in Accenture's retail practice. He also served as a member of the executive committee of the National Retail Federation.
In its statement, Ulta said the CEO post will be filled on interim basis by Dennis Eck, the company's non-executive chairman. The company has begun a search for a permanent successor to Rubin.