Kohl's CEO Fired for Conflict of Interest
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Kohl's Corp. fired CEO Ashley Buchanan for cause, citing undisclosed conflicts of interest involving vendor transactions and a consulting agreement with an individual he had a personal relationship with. Buchanan must forfeit equity awards and reimburse Kohl's $2.5 million. Michael Bender, former Eyemart Express CEO, is the interim CEO. Kohl's released a downbeat first-quarter outlook, projecting declining sales and operating income. The unexpected firing adds to concerns about the struggling retailer's stability and leadership.
Kohl's Corp. fired CEO Ashley Buchanan for cause, citing undisclosed conflicts of interest involving vendor transactions and a consulting agreement with an individual he had a personal relationship with. Buchanan must forfeit equity awards and reimburse Kohl's $2.5 million. Michael Bender, former Eyemart Express CEO, is the interim CEO. Kohl's released a downbeat first-quarter outlook, projecting declining sales and operating income. The unexpected firing adds to concerns about the struggling retailer's stability and leadership.
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