Michaels names Crowley new cfo

IRVING, Texas Michaels Stores has announced that Elaine D. Crowley has been named evp and cfo of the company, effective Aug. 18.

Crowley was most recently senior vp, cfo and treasurer for The Bombay Co. During her 18-year tenure with Bombay, she had direct responsibility for accounting and control, financial planning and analysis, tax, loss prevention, risk management, internal audit, SEC reporting, investor relations and treasury. She also initiated processes to strengthen sales and financial forecasts, expense control, inventory management and cash flow to respond to changing financial needs of the business. Crowley is a CPA with a B.B.A. in accounting from Texas Christian University.

"As the largest retailer of arts and crafts in North America, I believe that Michaels has tremendous opportunities ahead as it continues to expand its global sourcing network and increase market share," noted Crowley. "I am looking forward to joining the Michaels team and to contributing to its future success."

"We are very excited to have a chief financial officer with Elaine's background and experience join our team," said Michaels ceo Brian C. Cornell. "In addition to her financial acumen, her understanding of supply chain, sourcing, and extensive retail experience make her a great fit for Michaels."