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Bender replaced Ashley Buchanan who was fired in May after an
internal investigation found that he had directed the company to
do business with a vendor founded by someone with whom he had a
personal relationship.
“Over the past several months as interim CEO, Michael has proven
to be an exceptional leader for Kohl’s – progressively improving
results, driving short and long-term strategy, and positively
impacting cultural change,” Chairman John Schlifske said in
prepared remarks.
The board conducted a comprehensive search using an external
firm, Schlifsk said, before it “enthusiastically and unanimously
appointed Michael as CEO.”
Bender is a retail veteran with 30 years of experience at
retailers from Walmart to PepsiCo.
Retail earnings continue to roll out in what has become a
volatile period for retailers who are trying to win over
customers stung by inflationand a weakening U.S. jobs market,
while simultaneously navigating an erratic U.S. trade policy.
Annual sales at Kohl's have fallen for several years and it's
struggled to find a way to grow profits.
Kohl's releases its third-quarter earnings results Tuesday.
Shares of Kohl's Corp., based in Menomonee Falls, Wisconsin,
were unchanged Monday.
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