• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Stock

Kohl’s CEO Tom Kingsbury to step down and be replaced by Michaels CEO Ashley Buchanan

by November 26, 2024
written by November 26, 2024

Kohl’s is getting a new CEO, its third since 2018.

The off-mall department store’s current CEO Tom Kingsbury is stepping down effective Jan. 15. He will leave the position he held first on an interim basis starting in late 2022, and then permanently since early 2023.

Michaels CEO Ashley Buchanan will take over the top job at Kohl’s as Kingsbury departs, after leading the crafting retailer since 2020. Prior to his time at Michaels, Buchanan was at Walmart and its Sam’s Club division for 13 years.

Kohl’s shares fell about 3% in extended trading following the announcement.

At the world’s largest retailer, he held the roles of chief merchandising and chief operating officer for Walmart U.S. e-commerce and chief merchant at Sam’s Club before that. Buchanan is currently on the board of Macy’s, but will be stepping down from that role.

Kingsbury will remain with Kohl’s in an advisory role to Buchanan and stay on the board until he retires in May. Kohl’s doesn’t intend to replace Kingsbury and will reduce the board size by one seat.

Buchanan will step in just after the critical holidays end and as the retailer closes its fiscal year. There’s a lot of work to be done at a time when department stores are struggling to resonate with shoppers who have more options than ever before. While Kohl’s off-mall physical format has insulated it a bit more than other department stores, it has had a difficult several years.

Kohl’s shares fell 17% during Kingsbury’s interim period from Dec. 2, 2022 to Feb. 2, 2023 and then dropped a further 45% since. Kingsbury hasn’t been able to return sales to growth at Kohl’s. Its comparable store sales, a key metric for retailers, have fallen for the past 10 quarters.

Kingsbury took over as CEO after Michelle Gass left Kohl’s to become president and then eventual CEO of Levi Strauss. Kingsbury had been a member of the Kohl’s board since 2021. He previously served as CEO of Burlington Stores from 2008 to 2019.

This post appeared first on NBC NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Spanish retailer Mango to open 60 new U.S. stores as it looks to elevate the brand
next post
U.S. charges former Wamco executive Kenneth Leech with fraud

related articles

Walmart boosts sales outlook as it says tariff...

August 21, 2025

How a ship that glides like a pelican...

August 21, 2025

Apple just landed a key win for the...

August 20, 2025

Best Buy launches third-party marketplace as it looks...

August 19, 2025

Group accused of using fake accounts to buy...

August 19, 2025

Playboy moving its headquarters to Miami Beach and...

August 17, 2025

Lyft co-founders to step down from ride-hailing firm’s...

August 16, 2025

Warren Buffett’s Berkshire Hathaway reveals new stake in...

August 16, 2025

Apple Watch getting redesigned blood oxygen feature following...

August 15, 2025

The CEO in chief: How Trump is getting...

August 15, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Danish lawmaker addressing EU tells Trump to ‘f— off’ over Greenland bid

    January 23, 2025
  • Gold and Silver: Gold remains stable in the $2420 zone

    March 20, 2025
  • Vance visits US troops during high-stakes UK trip ahead of Trump’s Putin meeting

    August 13, 2025
  • How USAID went woke and destroyed itself

    February 7, 2025
  • ‘Congress must act’: Nonprofit study exposes green energy org’s ties to CCP interests while undermining US

    June 11, 2025

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,783)
  • Investing (634)
  • Stock (893)

Latest Posts

  • Dems who lashed out at Trump for being ‘threat to democracy’ flip script with last-minute delay tactics

    February 7, 2025
  • MORNING GLORY: Trump meets Putin amid an era done away with John Quincy Adams’ ‘abroad’

    August 12, 2025
  • Top moments from the Trump-Biden debate that changed the course of the 2024 election

    June 27, 2025

Recent Posts

  • Trump remains committed to US owning Gaza, says Middle East states could help rebuild war-torn area

    February 10, 2025
  • Over 5,700 children in 5-year period had gender surgeries, most from 5 liberal states: watchdog

    October 9, 2024
  • China Stock Market: Mixed Signals from China and Japan

    August 2, 2024

Editor’s Pick

  • Solana and Cardano: Solana is driving bullish momentum again

    August 14, 2024
  • Trump remains committed to US owning Gaza, says Middle East states could help rebuild war-torn area

    February 10, 2025
  • Jewish-American group urges US citizens in Israel to vote as absentee ballots can impact swing states

    October 22, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock