Kohl’s(KSS)2025-05-29 11:01Leadership Changes - The Board of Directors terminated CEO J. Ashley Buchanan for Cause on April 30, 2025, following an investigation into unethical business practices[5][6]. - Interim CEO Michael J. Bender was appointed following Mr. Buchanan's departure, with compensatory arrangements yet to be determined[9][11]. - Mr. Buchanan will forfeit all equity awards and reimburse the company $2,500,000 as part of his termination agreement[7]. - The company emphasized that Mr. Buchanan's termination was not related to its financial performance or reporting[8]. - The Board reduced the number of directors from 12 to 11 after Mr. Buchanan's termination[8]. Financial Performance - Kohl's Corporation announced preliminary expectations for its first quarter 2025 results, with a quarterly earnings conference call scheduled for May 29, 2025[4]. - Forward-looking statements regarding the company's performance are subject to risks and uncertainties that could materially affect actual results[15]. Shareholder Meeting - The annual meeting of shareholders is scheduled for May 14, 2025, where Mr. Buchanan's nomination for election will be withdrawn[8]. - The press release regarding these matters was issued on May 1, 2025[13].