Kohl's Fires CEO Ashley Buchanan Following Internal Investigation
Kohl's terminates CEO Ashley Buchanan for cause due to undisclosed conflicts of interest after a brief tenure of over four months.
Kohl's Corp. has fired CEO Ashley Buchanan after just four months on the job − the latest in a series of negative developments for one of Wisconsin's largest companies.
Kohl's fires CEO Ashley Buchanan for conflicts of interest. He was hired in January
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Buchanan's ouster comes just months after he began his CEO role at Kohl's on January 15 with the mandate of revitalizing a business wrestling with sluggish sales.
Kohl's fires CEO after investigation into conflicts of interest with a vendor
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Kohl’s 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 ousts CEO Buchanan after investigation into some vendor transactions
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As part of efforts to boost its profitability, the company has shuttered some stores and trimmed its corporate workforce in recent months.
Kohl's fires CEO Ashley Buchanan after investigation
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Kohl's ousts CEO Buchanan after investigation into some vendor transactions
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Kohl’s has spent the last few years in turmoil and has struggled to recover from shifting consumer behavior.
Kohl’s just fired its brand new CEO for unethical behavior | Business
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Summary
Kohl's has terminated CEO Ashley Buchanan following an internal investigation that revealed he engaged in vendor transactions involving undisclosed conflicts of interest. Buchanan, who served for just over four months, is required to forfeit equity awards and repay a signing bonus. The company reassured stakeholders that this dismissal was unrelated to its financial performance. Michael Bender, the board chair, has been appointed as interim CEO while Kohl's searches for a permanent replacement. This marks the third CEO change in three years amidst struggles with declining sales and competitive pressures.
Perspectives
Kohl's terminated CEO Ashley Buchanan after an investigation found violations of conflict-of-interest policies.
Buchanan's dismissal is unrelated to the company's overall financial performance or operations, allowing for ongoing investigations into his conduct without affecting the corporate structure.
Board Chair Michael Bender has been appointed as interim CEO while Kohl's searches for a permanent replacement.