There are changes in leadership coming to Kohl’s after the company found its newly installed CEO engaged in unethical behavior.
Ashley Buchanan, a former chief executive of arts and crafts chain Michaels, began as Kohl’s CEO on January 15th with the hopes of turning around the struggling retailer. However, the company says his tenure has been cut short after an investigation from an outside counsel found that he “violated company policies by directing the company to engage in vendor transactions that involved undisclosed conflicts of interest.” Michael Bender, the current chair of the Kohl’s board, will become interim CEO until a replacement is found.
