Kohl's fires new CEO for personal relationship with a vendor
Publishing timestamp: 2025-05-01 13:29:27
Summary
Kohl's fires CEO Ashley Buchanan after investigation found he had pushed for deals with a vendor he had a personal relationship with. Buchanan's firing marks the third change in leadership in as many years for the struggling department-store retailer. Despite reporting better-than-expected preliminary first-quarter earnings, Kohl's shares are still down roughly 70% over the last year. Buchanan is forfeiting stock awards and must reimburse the company for part of his signing bonus. Kohl's expects first-quarter results to be better than analysts' expectations. Michael Bender has been named interim CEO.
Sentiment: NEGATIVE
Keywords: retail industry, ashley buchanan, walmart inc, business, business news, breaking news: business, kohls corp drn,
Source: https://www.cnbc.com/2025/05/01/kohls-removes-ashley-buchanan-as-ceo.html