Michaels has established an interim Office of the CEO that will be led by a trio of executives as the search for a CEO continues.

Heather Bennett, president, Stacey Shively, chief merchandising officer, and CFO Perry Pericleous have been appointed to lead the interim Office of the CEO at the Irving-based Michaels Companies.

The Michaels Companies has appointed an interim office of the chief executive office as its CEO, Ashley Buchanan, plans to depart Wednesday.

The retailer’s president, chief financial officer and chief merchant will jointly lead daily operations as it searches for a permanent chief executive.

Kohl’s is closing 27 stores across more than a dozen states as the struggling retailer looks to improve profitability.

Ashley Buchanan takes over Wednesday as the new Kohl's CEO — the company's third leader in four years — at a time of store closings, declining sales and a stock price that's fallen by 50% in the past year.

Michaels, which provides craft and hobby items at over 1,300 sites, has set up an “interim Office of the Chief Executive Officer” that will provide

The closures, to be completed by April, are a small fraction of the chain’s 1,150 stores and were listed as “underperforming,” according to a press release. Kohl’s said it “continues to believe in the health and strength of its profitable store base.”

The locations of the Kohl's stores that are set to close have been released with most of the outlets affected situated in California, Illinois, and Texas.

Kohl’s is planning to close 27 underperforming stores in 15 states by April as the struggling department store chain aims to boost profitability and improve sagging sales.

Kohl's said Friday it will close 27 underperforming locations in 15 states by April -- a fraction of its 1,150-store base -- as the struggling department store chain aims to boost profitability and improve sagging sales.

Department store chain Kohl's will close 27 "underperforming" store locations across 15 states, including two in Ohio, by April, the company announced.