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Kohl's fires CEO Buchanan after probe shows conflict of interest
- Kohl's terminated Ashley Buchanan as CEO for cause on May 1, 2025, and appointed Michael Bender as Interim CEO.
- An investigation overseen by the Audit Committee found Buchanan violated policies by directing vendor transactions with undisclosed conflicts of interest.
- Kohl's has a robust presence with more than 1,100 stores across the country, reaching upwards of 60 million shoppers, while the Board has engaged a premier search firm to help find a permanent CEO.
- The company anticipates its operating income for the first quarter of 2025 to fall between $40 million and $45 million, expects diluted earnings per share to range from a loss of $0.24 up to a loss of $0.20, and projects comparable sales to decline by approximately 4.3% to 4.0%.
- Michael Bender expressed commitment to the strategic framework and to serving customers and shareholders during this important time for the company.
172 Articles
172 Articles
Kohl’s CEO Is Facing a Big Scandal
Photo-Illustration: by The Cut; Photos: Getty Images, AP Images When’s the last time you thought about Kohl’s? If it’s been a minute, here’s a compelling reason to start again: Its CEO just got fired for allegedly funneling business to his girlfriend’s vitamin-infused-coffee company. Per The Wall Street Journal, Ashley Buchanan spent his first (and last) four months as CEO making one too many business deals with his girlfriend, the founder of a …
Kohl's CEO fired for steering business to a person with whom he had a relationship, retailer says
Kohl’s CEO Ashley Buchanan was fired this week because he had an undisclosed personal relationship with a vendor on a consulting team that made a multimillion-dollar deal with the retailer at his direction, the company said in a regulatory filing.
Kohl’s terminates CEO Ashley Buchanan after investigation into conflict of interest with vendors
Kohl’s announced on Thursday that CEO Ashley Buchanan has been terminated for cause, after an internal investigation found that Buchanan had arranged vendor deals that involved undisclosed personal relationships, violating company ethics policies. Buchanan had served as chief executive for only five months prior to his dismissal. In an official statement, the retailer said, “An independent investigation led by external legal counsel and supervis…
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