US EditionKohl's fires CEO Buchanan after probe shows conflict of interest
- Kohl's terminated Ashley Buchanan as CEO for cause on May 1, 2025, and appointed Michael Bender as Interim CEO.
- An investigation overseen by the Audit Committee found Buchanan violated policies by directing vendor transactions with undisclosed conflicts of interest.
- Kohl's has a robust presence with more than 1,100 stores across the country, reaching upwards of 60 million shoppers, while the Board has engaged a premier search firm to help find a permanent CEO.
- The company anticipates its operating income for the first quarter of 2025 to fall between $40 million and $45 million, expects diluted earnings per share to range from a loss of $0.24 up to a loss of $0.20, and projects comparable sales to decline by approximately 4.3% to 4.0%.
- Michael Bender expressed commitment to the strategic framework and to serving customers and shareholders during this important time for the company.
142 Articles
142 Articles
Why Kohl’s Fired Its CEO Ashley Buchanan
Kohl’s said it has terminated its new CEO Ashley Buchanan after an investigation determined that he directed the retailer to engage in vendor transactions that involved undisclosed conflicts of interest. Kohl’s named Chairman Michael Bender as interim CEO, effective immediately. In connection with the appointment, Bender will step down as a member of the board’s audit, compensation and nominating and environmental, social and governance committe…
Kohl’s fires new CEO over unusual business deal with romantic partner
Kohl’s new CEO Ashley Buchanan has been fired for failing to disclose a conflict of interest, the company announced Thursday. Buchanan, who joined the struggling retailer earlier this year, was terminated after an investigation found he had “violated company policies by directing the company to engage in vendor transactions that involved undisclosed conflicts of interest.” According to the company’s board of directors, his termination was not re…
Kohl’s fires new CEO after probe finds he pushed for deals with vendor he had personal relationship with
Ashley Buchanan engaged in transactions with this person’s company on ‘highly unusual terms,’ Kohl’s said, and also caused the company to agree to a consulting agreement with a team that included this person he was involved with
'Undisclosed Conflicts of Interest': Kohl's CEO Fired After Board Finds 'Highly Unusual' Deals
Kohl's CEO, Ashley Buchanan, was fired after just four months for not disclosing possible conflicts of interest. He allegedly did not disclose a "personal relationship" in business dealings.
Coverage Details
Bias Distribution
- 68% of the sources are Center
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage
