Kohl’s said it has terminated its new CEO Ashley Buchanan after an investigation determined that he directed the retailer to engage in vendor transactions that involved undisclosed conflicts of interest.
Kohl’s named Chairman Michael Bender as interim CEO, effective immediately. In connection with the appointment, Bender will step down as a member of the board’s audit, compensation and nominating and environmental, social and governance committee, according to the retailer’s regulatory filing.
The news comes less than four months after Buchanan, who had been previously the CEO of arts and crafts chain Michaels, took over the job on January 15. Buchanan’s appointment marks the third CEO for Kohl’s in three years as
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