Click here: to donate by Credit Card
Or here: to donate by PayPal
Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794
Thank you very much and God bless you.
Posted on 05/01/2025 7:58:45 AM PDT by Diana in Wisconsin
Kohl’s has fired its newly installed CEO, who has spent less than five months in the position, after the retailer found that Ashley Buchanan engaged in unethical behavior.
Buchanan’s dismissal was “for cause,” a rare rebuke of a business leader that carries serious weight in the business community. It comes 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,” according to a press release.
Kohl’s added that his termination is “unrelated to the company’s performance, financial reporting, results of operations and did not involve any other company personnel.”
Buchanan, a former chief executive of arts and crafts chain Michaels, began as Kohl’s CEO on January 15 with the hopes of turning around the struggling retailer. But during his short tenure, he also failed to do that with sales falling as much as 4.3% the company revealed in preliminary earnings.
Michael Bender, the current chairman of the Kohl’s board, will become interim CEO until a replacement is found. The news sent Kohl’s (KSS) shares soared as much 6% in early trading before retreating.
Like many department stores in recent years, Kohl’s has spent the last few years in turmoil and has struggled to recover from shifting consumer behavior. It’s also dealing with competition from online sellers, high inflation and, now, the pullback of consumer spending amid economic uncertainty.
Kohl’s also recently announced the closure of 27 locations, resulting in about 1,100 stores left.
(Excerpt) Read more at channel3000.com ...
Click here: to donate by Credit Card
Or here: to donate by PayPal
Or by mail to: Free Republic, LLC - PO Box 9771 - Fresno, CA 93794
Thank you very much and God bless you.
Ashley? Like Scarlett’s beau? There’s the problem.
“It comes 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...’”
Old Ashley is acting like a Congress Critter getting wealthy due to insider trading! ;)
the only thing I liked about Kohls was that it handled Amazon returns. Quick in and out.
Ecce homo.
I used to trade KSS stock up in the $55 to $60 area. Now it is $7. Pretty sad, I consider them a fairly skilled operator.
🤪
I was gonna say, in 2025?
Looks like a horny dude: https://en.wikipedia.org/wiki/Ashley_Buchanan
“Ashley Buchanan ... he “violated company policies”
Grok tells me that Ashley was originally a boy’s name. I dimly recall that there was Ashley Wilkes in Gone with the Wind. More recently, it has been a popular girl’s name.
I don’t think there are many male Ashleys now days.
WSJ has more.
Cherchez la femme.
I heard they stopped doing Amazon returns...
They should have never hired a man with a woman’s name or the milk toast character in “Gone with the Wind”
Purchasing decisions are often swayed by kickbacks in a wide variety of forms.
Corporate auditors need to watch that stuff like hawks.
Congrats to Kohls for catching it and acting decisively.
started by the commie senator ...
“Frankly my dear, I don’t fiddly give a diddly darn.” Ned Butler
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.