By Dean Seal
Kohl's tapped the former boss of Northwestern Mutual to be its independent chair after its previous chairman was named interim chief executive in the wake of Ashley Buchanan's firing.
The retailer said Thursday that Michael Bender will no longer serve as chair and that John Schlifske, who retired as Northwestern Mutual's CEO at the end of last year, has been appointed independent chair of the board.
The board has also formed a committee to search for the company's next chief executive after firing Buchanan last week. The Wall Street Journal reported that Buchanan had tried to funnel business to a romantic partner, Chandra Holt, with whom he currently lives.
Kohl's appointed Bender to be its interim CEO following the ouster, making him the fourth CEO in three years for the struggling department-store chain.
The company also said Thursday that Christine Day has resigned from the board. The decision wasn't due to any disagreements with the company or any matter relating to its operations, policies or practices, according to a securities filing.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
May 08, 2025 10:44 ET (14:44 GMT)
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