Kohl's department store chain is seeking a new chief executive after the termination of Ashley Buchanan, who was only in the position since January 15. His firing stemmed from a violation of company policies concerning undisclosed conflicts of interest in vendor transactions. Despite this, Kohl's stated the decision was unrelated to the company's performance, which has been struggling with declining sales since late 2021 and waning interest from younger consumers. Michael J. Bender, a board director, has been appointed as the interim CEO.
Kohl's has embarked on a search for a new CEO after firing Ashley Buchanan for violating company policies related to undisclosed conflicts of interest.
The departure of CEO Ashley Buchanan, just months into his tenure, comes amid declining sales and shifts in consumer interest, raising concerns for Kohl's future.
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