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Kohl's Corp. abruptly fired CEO Ashley Buchanan after only four months due to undisclosed conflicts of interest violating company policies. The termination wasn't related to Kohl's financial performance. Board Chair Michael Bender is the interim CEO while a search for a permanent replacement is underway. Buchanan's compensation package totalled over $20 million, a figure exceeding his predecessor's. Kohl's has recently reported declining sales and profits, adding to the company's ongoing challenges.

Prepared by Christopher Adams and reviewed by editorial team.