Re: Kohl's Corp (KSS) - CEO steps down (the day BEFORE earnings)
Kohl's Announces CEO Transition Process
- Ashley Buchanan Appointed Chief Executive Officer and Board Member, Starting January 15
- Tom Kingsbury Plans to Step Down as CEO on January 15, Retaining an Executive Advisory Role and Board Seat Through His Retirement in May 2025
MENOMONEE FALLS, Wis.--(BUSINESS WIRE)-- Kohl’s Corporation ("Kohl’s" or the "Company") (NYSE: KSS) today announced that Chief Executive Officer Tom Kingsbury plans to step down as CEO, effective January 15, 2025. He will stay on in an advisory role to the new CEO and retain his position on Kohl's Board of Directors (the "Board") through his retirement in May 2025, after which the size of the board will be reduced by one.
The Board has appointed retail veteran Ashley Buchanan as CEO, effective January 15. Buchanan has been CEO of Michaels Companies since 2020 and, prior to that, has held a variety of senior executive roles at Walmart and Sam's Club during his 13 years at the company.
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Has the transition been completed AFTER 2 years? Based on the new CEO & passed experience, my guess is YES! I think earnings may be OK and it is time to announce the new CEO.
Will be adding to my position tomorrow, pre-market hopefully BEFORE earnings are reported. If not, will still do a 25% add betting on the new CEO talents, value of their company owned real estate, 11% dividend and continued positive FCF. Positive FCF for 2024 and two of the last 4 quarters positive FCF. |
