• 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

YouTube to pay $24 million to settle Trump...

October 1, 2025

Charlie Javice sentenced to 7 years in prison...

October 1, 2025

Video game maker Electronic Arts to be acquired...

October 1, 2025

Nearly 200,000 BMWs recalled over potential fire risk

September 30, 2025

Trump says U.S. will impose new tariffs on...

September 29, 2025

Former Fed chairs warn that removing Lisa Cook...

September 27, 2025

Amazon to pay $2.5 billion to settle FTC...

September 27, 2025

The charm of watching movies in theaters is...

September 25, 2025

Ben & Jerry’s co-founder resigns, claiming parent company...

September 18, 2025

LimeWire acquires Fyre Festival, asking ‘What Could Possibly...

September 17, 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

  • Elon Musk dubs himself the ”George Soros’ of the middle’

    November 14, 2024
  • SCOOP: Inside Elon Musk’s meeting with the Senate DOGE Caucus

    February 27, 2025
  • Apple just landed a key win for the global encryption fight

    August 20, 2025
  • Trump to put tariff exemptions on certain goods from Canada, Mexico

    March 7, 2025
  • JONATHAN TURLEY: Why I’m congratulating the Washington Post

    October 26, 2024

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 (6,247)
  • Investing (634)
  • Stock (935)

Latest Posts

  • Trump says US will ‘take a pass’ on Ukraine peace efforts if Russia refuses to play ball

    April 18, 2025
  • Zelenskyy outlines peace demands before high-stakes White House meeting with Trump

    August 16, 2025
  • DNC union launches GoFundMe to help former staffers hit by massive layoffs after election losses

    November 25, 2024

Recent Posts

  • Republicans weigh in on what they hope and expect to hear in Trump’s RNC speech: ‘This is his moment’

    July 18, 2024
  • Vance, White House blast ‘crazy communists’ protesting DC clean-up, terrorizing locals: ‘Stupid White hippies’

    August 20, 2025
  • Federal agencies control fates of employees who bucked Musk ‘what did you do last week’ email

    February 25, 2025

Editor’s Pick

  • Bernie Sanders says Israeli PM ‘wrong’ both in the past and now: ‘We must not get involved in Netanyahu’s war’

    June 20, 2025
  • Pence laments pro-life principles ‘fell short’ at RNC, thanks delegates for ‘noble’ fight

    July 23, 2024
  • Senate set for confirmation vote on Doug Burgum, Trump’s pick to lead the Interior Department

    January 30, 2025
  • 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