Overview

• Ashley Buchanan, hired as CEO in January 2025, was terminated for cause after an investigation revealed undisclosed vendor conflicts.
• The firing was unrelated to financial performance or other company personnel, according to Kohl’s statement.
• Michael Bender, chairman of the board, will serve as interim CEO while the company searches for a permanent replacement.
• Kohl’s continues to face financial struggles, including a 4.3% sales decline and the recent closure of 27 stores, leaving about 1,100 locations.
• The announcement led to a temporary 6% rise in Kohl’s stock price during early trading.