Michael Bender named Kohl’s Interim CEO.
Courtesy: Kohl’s
Kohl’s said Monday that Michael Bender, who has served as its interim CEO, will become its permanent chief executive as the department store tries to get back to sales growth.
He becomes the third CEO for the department store in three years. The move is effective as of Sunday.
Bender, who has been director of Kohl’s board since July 2019, became the company’s interim CEO in May. The retailer appointed Bender to the position after firing CEO Ashley Buchanan after just a few months into his tenure.
Kohl’s fired Buchanan after it said a company investigation found that he had pushed for deals with a vendor with whom he had a personal relationship.
Kohl’s leadership announcement comes a day before the retailer reports fiscal third-quarter earnings. Along with leadership turmoil, Kohl’s has struggled with declining sales. The company said in August that it expects net sales to drop by 5% to 6% for the fiscal year.
Bender previously held leadership and management roles at retailers including Victoria’s Secret, Walmart and Eyemart Express.
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