Thu May 01 13:00:00 UTC 2025: ## Kohl’s CEO Ousted After Investigation Uncovers Conflicts of Interest
**MILWAUKEE, WI –** Kohl’s Corporation announced the immediate removal of its CEO, Ashley Buchanan, following an internal investigation that revealed violations of company policy. Buchanan, who only assumed the role in November, was found to have directed the company into vendor transactions involving undisclosed conflicts of interest. The company emphasized that the findings did not impact its financial reporting or other employees.
Michael Bender has been appointed as interim CEO, while the company launches a search for a permanent replacement. The news comes as Kohl’s released preliminary first-quarter results, showing better-than-expected performance despite ongoing challenges in the retail sector. The company projects a comparable sales decline of 4% to 4.3%, exceeding analyst expectations of a 6.34% drop. Similarly, the anticipated loss per share is between 20 and 24 cents, less severe than the 52-cent loss predicted by analysts.
Kohl’s shares, which have plummeted 52% year-to-date, saw a 7% surge following the announcement. The company continues to navigate a difficult retail landscape marked by intense competition from e-commerce and large retailers. The full first-quarter results are expected to be released on May 29.
First Piper 