Kohl's Corp. (KSS) announced on Monday that Tom Kingsbury will be stepping down from his role as Chief Executive Officer, effective January 15, 2025. Following this date, Kingsbury will serve as an advisor to the incoming CEO and will maintain his seat on the Board of Directors until his retirement in May 2025. After his retirement, the board will be reduced by one member.
The company also revealed the appointment of Ashley Buchanan as the new Chief Executive Officer, effective January 15. Buchanan has been serving as CEO of Michaels Companies since 2020. Prior to this, he held several senior executive positions during his 13-year tenure at Walmart and Sam's Club.
Kohl's also announced that it will release its third-quarter earnings report at 9:00 a.m. ET on November 26, 2024.