MENOMONEE FALLS, Wis. — Kohl’s Corporation Board of Directors fires CEO Ashley Buchanan after an investigation found he violated company policies.
Buchanan, who started as CEO in January 2025, is accused of “directing [Kohl’s] to engage in vendor transactions that involved undisclosed conflicts of interest, which the Board determined to be cause. Mr. Buchanan’s termination is unrelated to the Company’s performance, financial reporting, results of operations and did not involve any other Company personnel”.
Kohl’s Board of Directors Chair Michael Bender has been appointed as interim CEO effective immediately. Bender has served as director of the board since July 2019 and as board chair since May 2024.
Kohl’s sales declined last month at a reported 9.4%. The company will announce its first quarter 2025 earnings results on May 29.
