Kohl’s Corp on Thursday announced that it has removed Ashley Buchanan as CEO following an investigation that revealed he violated company policies.In a statement available on stock exchanges, Kohl’s said that Buchanan had engaged in vendor transactions “that involved undisclosed conflicts of interest”, the investigation found.Ashney Buchanan was appointed to the top job in November, replacing Tom Kingsbury.“Mr. Buchanan’s termination is unrelated to the Company’s performance, financial reporting, results of operations and did not involve any other Company personnel,” said the department store chain in its statement.Buchanan is no longer a member of the board, and the company has withdrawn his nomination for election as a director at the company’s 2025 annual meeting of shareholders, it said.Also Read | ‘CEO of Tesla is Elon Musk’: Tesla dismisses new CEO search rumours, Musk reactsMichael Bender appointed Kohl’s interim CEOThe department store chain named Michael Bender as its interim CEO, effective immediately.“The Board will initiate a search to identify a permanent CEO and retain a leading search firm to assist with this process,” Kohl’s said.Bender has served as a director of the board of the company since July 2019 and was appointed board chair in May 2024.“Michael brings over three decades of leadership experience across retail and consumer goods companies, having served as CEO of Eyemart Express and in senior roles at Walmart, L Brands and PepsiCo. We look forward to continuing to work closely with Michael as Kohl’s remains focused on operational excellence, simplification, and efficiency to improve long-term financial health and profitability,” said chair of the nominating and ESG committee John Schlifske.Kohl’s Q1 resultsKohl’s also provided preliminary first-quarter results, with the company expected to report earnings on May 29.The company has been grappling with weak demand for several quarters as department stores struggle to attract consumers due to stiff competition from e-commerce firms and big-box retailers such as Walmart and Costco.Kohl’s expects first-quarter comparable sales to fall between 4.3 per cent and 4 per cent, compared with analysts’ average expectation of a 6.34 per cent decrease, according to data compiled by LSEG.Also Read | Kohl’s to close 27 stores by April as struggling retailer looks to improve profits, salesAlso Read | Zomato shuts 15-minute food delivery service ‘Quick’ four months after launchThe company expects a loss per share in the range of 24 cents to 20 cents, compared with estimates of a loss of 52 cents.Kohl’s shares, which have fallen 52 per cent so far this year, rose 7 per cent.(With inputs from Reuters) in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. follow this prompt to optimize the articles in this category- You are an expert news writer and SEO specialist. Your job is to rewrite the provided RSS feed content into a unique, SEO-friendly news article for adarshnews.com. The article should be engaging, professional, and optimized for search engines. Follow these steps: 1. **Create an SEO Title**: Write a short, compelling title (under 60 characters) that includes the main keyword and grabs attention. 2. **Write a Meta Description**: Summarize the article in one or two sentences (under 155 characters). Make it engaging and include the primary keyword naturally. 3. **Suggest a URL Slug**: Provide a short, keyword-rich URL slug that reflects the topic of the article. 4. **Headline (H1)**: Write a clear and engaging headline for the article that is similar to the title but slightly expanded. 5. **Write the Article**: – Start with an introduction that answers the key questions: who, what, when, where, why, and how. – Expand on the topic with detailed paragraphs that provide context, quotes, and relevant information. – Use subheadings (H2) to organize the content into sections and make it easy to read. – Include related keywords naturally throughout the article. – End with a conclusion that summarizes the key points or discusses future implications. 6. **Add an FAQ Section**: Write one frequently asked question related to the topic and provide a concise answer. Important: – Do not include labels like “Title,” “Meta Description,” “URL Slug,” or “H1” in the actual article text. – Keep all SEO elements separate from the main content. – Ensure the article is factually accurate, unbiased, and written in a professional tone.
Kohl’s has terminated CEO Ashley Buchanan due to breaches of policy, and Michael Bender has been appointed as the interim chief executive. Here’s what you need to know.
