Kohl’s has announced the dismissal of CEO Ashley Buchanan following an investigation that revealed violations of company policies.
The retailer disclosed that its board decided to terminate Buchanan after the inquiry “determined Mr. Buchanan violated company policies by directing the Company to engage in vendor transactions that involved undisclosed conflicts of interest.”
The company clarified that Buchanan’s termination was unrelated to the retailer’s “performance, financial reporting, results of operations,” nor did it involve any other personnel at the company.
In the interim, Kohl’s board Chair Michael Bender has been appointed to lead the company while a search for a new permanent CEO is initiated.
This is a developing story. Please check back for updates.
