The Michaels Companies, Inc. announced that Charles M. Sonsteby has been named to the newly created role of Vice Chairman of company. Mr. Sonsteby currently serves as Chief Administrative Officer and Chief Financial Officer. In this new role, Mr. Sonsteby will assume executive responsibility for the growth and continued integration of Lamrite West, in addition to his current responsibilities. The Company has launched a search for a new Chief Financial Officer. Mr. Sonsteby will continue to serve as Chief Financial Officer until a successor has been named.