"Kohl's terminated CEO Ashley Buchanan for cause due to unethical behavior involving undisclosed conflicts of interest, independent investigations revealed."
"The firing of Ashley Buchanan, who served less than five months, reflects a lack of due diligence prior to his appointment, raising concerns about Kohl's direction."
Kohl's has unexpectedly terminated its CEO, Ashley Buchanan, after a mere five months due to his unethical dealings that included undisclosed conflicts of interest. The board's decision, termed a dismissal 'for cause,' highlights serious issues facing the retailer. Interestingly, this action is unrelated to the companyâs financial performance, which has seen sales decline by up to 4.3%. As Kohl's searches for a new CEO, interim leadership is provided by chairman Michael Bender. Experts caution that this upheaval contributes to a perception of chaos within the brand as it faces mounting external pressures.
Read at ABC7 Los Angeles
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