Jo-Ann Appoints Wade Miquelon as Executive Vice President and Chief Financial Officer

HUDSON, Ohio–(BUSINESS WIRE)–Jo-Ann Fabric and Craft Stores, the leading fabric and craft specialty
retailer in America, is proud to announce Wade Miquelon as executive
vice president and chief financial officer (CFO). Miquelon will lead the
Finance Organization, Real Estate, Information Technology, and General
Counsel in his new role.

Miquelon recently served as the executive vice president, CFO and
president of international for Walgreen Company,
a Chicago-based Fortune 50 company, with $72 billion in annual sales
across more than 7,900 retail stores and 250,000 employees worldwide.
His responsibilities included overseeing strategy, mergers and
acquisitions, investor relations, business development, venture capital,
corporate purchasing, market planning, internal consulting, and risk
management. While at Walgreens, Miquelon also led the purchase of Duane
Reed, the New York City drugstore chain, the acquisition of Drugstore.com,
the two-step transaction to acquire/merge with Alliance Boots — a $40
billion in annual revenue company operating in 26 countries — and the
commercial and equity investment partnership with Amerisource Bergen.
Since working for Walgreens, Miquelon has served as founder and managing
director of his own investment and advisory firm working with private
equity firms as well as with several Fortune 500 retailers and various
healthcare and children’s education start-ups.

During his time at Walgreens, Institutional Investor named
Miquelon CFO of the year in 2011. The Wall Street Journal placed
Miquelon as one of its top nine CFOs to watch in 2012.

Prior to working for Walgreens, Miquelon held the position of executive
vice president and CFO at Tyson
Foods, Inc., the world’s largest meat and food service company, and
a major provider of prepared foods, with $30 billion in annual sales.

Before joining Tyson, Miquelon served in multiple roles of progressing
responsibility at The Procter
& Gamble Company. He worked globally while continuing to build a
resume reflecting his growing impact within the organization. Miquelon
worked at the company’s headquarters in Cincinnati for five years and a
combined 12 years at its international offices in Bangkok, Singapore,
and Geneva. His latter roles included CFO for the 42-country South East
Asia region and then subsequently for the 17-country Western Europe
Region based in Geneva. In Switzerland, he held the position of general
manager and head of finance for Western Europe, a P&G division
responsible for 30% of P&G’s sales, approximately $20 billion.

Miquelon graduated from Purdue University with a Bachelor of Science
degree in Civil Engineering and obtained his MBA at Washington
University in St. Louis. In 2014, he was voted Washington University’s
distinguished alumni of the year by a panel of prior recipients.

Currently, Miquelon serves on the board of directors for Acadia
Healthcare (ACHC) based in Franklin, Kentucky. Prior to the merger
with privately-held Alliance Boots based in Bern Switzerland, he served
on its board of directors. Miquelon has been an active board member for
many non-profit organizations including the Chicago Shedd Aquarium,
Chicago Lyric Opera, the Dean’s Advisory Board for The Sam W. Walton
College of Business (University of Arkansas) and the Kerry Wood
Foundation.

“I am thrilled to have an executive of Miquelon’s deep and broad
experience join the Jo-Ann team during a transformational time in our
brand’s rich history,” said Jill Soltau, president and CEO, Jo-Ann
Fabric and Craft Stores. “Miquelon is a highly-respected and effective
leader with a track record of driving retail changing strategies. Fueled
with a career of significant accomplishments, he will play a key
strategic role in creating value for our organization and stakeholders
while serving our customers through an exciting shopping experience.”

”I feel very excited and fortunate to join such a wonderful company that
engages a loyal and passionate customer in an enthusiast category filled
with future opportunity,” said Miquelon. “I am convinced that under
Jill’s leadership and in partnership with the entire Jo-Ann team we will
delight our customers, create value for all of our stakeholders, and
have a lot of fun in the process.”

Miquelon and his wife Katy have four children and will be relocating
with their youngest daughter Sienna from Chicago to northeast Ohio to
join Jo-Ann at its Hudson, Ohio Headquarters.

About Jo-Ann Stores, LLC

Jo-Ann Fabric and Craft Stores, the nation’s leading fabric and craft
retailer with locations in 49 states, was founded in 1943 as a single
retail store. Today, approximately 850 Jo-Ann stores across the country
provide consumers all the fabrics, craft supplies and inspiration they
need, conveniently under one roof. For additional information, visit Joann.com.
To make creative connections, visit Joann.com/community.

Contacts

Jo-Ann Stores, LLC
Beth Shivak, 330-463-8661
Corporate
Communications
beth.shivak@joann.com