Kohl's has fired its CEO, Ashley Buchanan, after just a few months in the role due to his involvement in vendor transactions marked by undisclosed conflicts of interest. The company has appointed Michael Bender, its chairman, as interim CEO, and clarified that Buchanan's dismissal is not linked to the retailer's performance or financial reporting. As Kohl's navigates sluggish sales among middle-income shoppers and heightened competition from other retailers, it begins the search for a permanent CEO to stabilize leadership.
Kohl's has terminated CEO Ashley Buchanan following an investigation into undisclosed conflicts of interest in vendor transactions, while appointing Michael Bender as interim CEO.
The company's decision is not related to financial performance or other employees, as it seeks a permanent replacement for Buchanan after the CEO's brief tenure.
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