THE WHAT? Kohl’s has introduced the appointment of Ashley Buchanan as CEO and Board Member, efficient January 15, 2025. Present CEO, Tom Kingsbury plans to step down on the identical date. He’ll retain an Government Advisory Function and Board Seat by his retirement in Might 2025.
THE DETAILS Buchanan has been CEO of Michaels Corporations since 2020 and, previous to that, has held a wide range of senior government roles at Walmart and Sam’s Membership throughout his 13 years on the firm.
THE WHY? Board Chair Michael Bender, explains, “We’re excited to welcome Ashley to Kohl’s. His huge retail expertise main operations, merchandising, and e-commerce at Walmart and his previous 5 years as CEO of Michaels will deliver a gradual, confirmed, modern chief to Kohl’s as we proceed to rework the enterprise and drive future progress.
“Throughout his time at Michaels, he improved profitability and money movement whereas driving operational efficiencies throughout the enterprise. He additionally launched new methods to leverage expertise and e-commerce, permitting Michaels to extra successfully meet clients the place they’re right this moment. He has pushed change by setting a transparent imaginative and prescient, empowering groups, and practising organizational accountability for outcomes. We all know he shall be an amazing chief for Kohl’s and can deliver a brand new perspective in our subsequent chapter.”