Kohl's appoints Michaels CEO Ashley Buchanan as its new leader amid sales challenges.
Kohl's has appointed Michaels CEO Ashley Buchanan as its new CEO, effective January 15. Buchanan, who has also held senior roles at Walmart and Sam's Club, will succeed Tom Kingsbury, who will continue as an advisor until his retirement in May 2025. Kohl's faces challenges with declining sales and competition from Walmart and Amazon. Buchanan's appointment comes as Kohl's shares fell nearly 5% following the announcement.
November 25, 2024
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