Menomonee Falls, Wis. — Kohl’s Corporation’s board of directors has appointed Michael Bender as interim chief executive officer (CEO), effective immediately. Bender has served as a director of the board since July 2019 and was appointed board chair in May 2024. The board will initiate a search to identify a permanent CEO and retain a leading search firm to assist with this process.
Bender’s appointment follows the board’s decision to terminate Ashley Buchanan for cause. An investigation conducted by outside counsel and overseen by the audit committee of the board determined that Buchanan violated company policies by directing the company to engage in vendor transactions that involved undisclosed conflicts of interest, which the board determined to be cause. Buchanan’s termination is unrelated to the company’s performance, financial reporting, results of operations and did not involve any other company personnel.
“The board has full confidence in Michael to serve our customers and associates as interim CEO and deliver on our commitments to our shareholders,” says John Schlifske, chair of the nominating and ESG committee. “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.”
Bender served as president and chief executive officer of Eyemart Express, LLC, an optical retailer, from January 2018 to April 2022, having previously acted as president from September 2017 to January 2018. Prior to joining Eyemart Express, Bender held various executive management positions at Walmart Inc., most recently as chief operating officer of global e-commerce. Prior to joining Walmart, Bender held senior positions at Cardinal Health, Inc., Victoria’s Secret for L Brands, Inc. and PepsiCo, Inc.
Kohl’s is a leading omnichannel retailer with more than 1,100 stores in 49 states and online at www.Kohls.com and www.Corporate.Kohls.com.
SOURCE: Kohl’s Corporation