Kohl’s CEO Ashley Buchanan has been fired due to undisclosed conflicts of interest with vendors.
Buchanan's termination was a result of an investigation by outside counsel, and he was found to be acting alone in these conflicts.
Kohl’s board chair, Michael Bender, is now the interim CEO while the company searches for a replacement for Buchanan.
Buchanan had joined Kohl’s in November as CEO but was terminated for cause for not disclosing personal relationships with vendors, creating a challenging situation for the department store chain.