Kohl’s CEO Let Go in Internal Scandal, Board Installs Interim Leader

Kohl’s is shaking up its leadership after abruptly firing CEO Ashley Buchanan for cause, citing a vendor-related conflict of interest uncovered during an internal investigation. While the company emphasized the situation had nothing to do with financial results or performance, Buchanan is out effective immediately—and so is his spot on the board.

Michael Bender, a longtime retail executive and current board member, has stepped in as interim CEO. The company says Bender brings stability and experience at a critical moment, as Kohl’s works to regain momentum amid ongoing retail challenges. A permanent CEO search is already underway.

The announcement comes as Kohl’s also hinted at a weaker-than-expected start to 2025, with falling sales and continued pressure on earnings. With Buchanan gone and a new leader at the helm, all eyes are now on what’s next for the retailer—and whether this leadership reset can steer the brand in a new direction.