Ashley Buchanan was terminated as CEO of Kohl's after just four months following an investigation into his conduct. The company found that he had engaged in a multimillion-dollar consulting deal with a vendor linked to a personal relationship, which raised red flags regarding potential conflicts of interest. The incident was led by the Audit Committee and prompted a swift response from the board of directors, who appointed Michael Bender as interim CEO. The situation highlights the importance of maintaining ethical standards and transparency in corporate governance.
Kohl's CEO, Ashley Buchanan, was fired after being implicated in a multimillion-dollar consulting deal due to a personal relationship, violating company policies.
An investigation revealed that Buchanan directed Kohl's to engage in vendor transactions with someone with whom he had a personal relationship, leading to his dismissal.
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