Global Finance News
01 May 2025, 13:50
Kohl’s Corporation announced a leadership change effective immediately, appointing Michael Bender as Interim CEO following the termination of former CEO Ashley Buchanan for cause.
The decision came after an investigation found Buchanan had directed vendor transactions involving undisclosed conflicts of interest. His termination is not related to company performance or financial reporting.
Bender, a board member since 2019 and recently appointed Board Chair, brings experience from past executive roles at Eyemart Express, Walmart, L Brands, and PepsiCo. He will step down from his role as Board Chair while serving as Interim CEO. The Board will conduct a formal search for a permanent CEO.
Kohl’s also provided preliminary Q1 2025 financial expectations:
- Comparable sales: down 4.3% to 4.0%
- Operating income: $40 to $45 million
- Diluted EPS: a loss of $0.24 to $0.20
The company will report full Q1 2025 results on May 29, 2025.
The decision came after an investigation found Buchanan had directed vendor transactions involving undisclosed conflicts of interest. His termination is not related to company performance or financial reporting.
Bender, a board member since 2019 and recently appointed Board Chair, brings experience from past executive roles at Eyemart Express, Walmart, L Brands, and PepsiCo. He will step down from his role as Board Chair while serving as Interim CEO. The Board will conduct a formal search for a permanent CEO.
Kohl’s also provided preliminary Q1 2025 financial expectations:
- Comparable sales: down 4.3% to 4.0%
- Operating income: $40 to $45 million
- Diluted EPS: a loss of $0.24 to $0.20
The company will report full Q1 2025 results on May 29, 2025.
