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Michaels Stores CEO Menzer resigns after stroke

July 20 | Fri Jul 20, 2012 1:25pm EDT

July 20 (Reuters) - Michaels Stores said on Friday that its chief executive, John Menzer, has resigned from the arts and crafts retailer to focus on recovering from the stroke he suffered in April.

The company, controlled by private equity firms Bain Capital Partners and Blackstone Group, said it is searching for a new CEO.

The company filed for an initial public offering in March.
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