Kohl's Corporation (KSS) saw its stock price plummet by 5.10% in Friday's trading session, following revelations of internal disagreements and a director's resignation. The sharp decline comes as investors react to concerns about corporate governance and potential management issues within the retail giant.

In an amended SEC filing on Friday, Kohl's disclosed that Christine Day had resigned from her position as a director due to disagreements with the board. This revelation contradicts the company's previous statement that Day's departure was not related to any conflicts. The disagreements primarily centered on how the company responded to recommendations from Institutional Shareholder Services (ISS), a prominent shareholder advisory firm, regarding the say-on-pay proposal and board process matters.

The situation was further complicated by Day's email to the board, in which she stated, "There is simply no way the Board could have interpreted my resignation as having no conflict issues. This was a deliberately selective edit." Kohl's, however, maintained its position, stating that it "strongly disagrees with the assertions in Ms. Day's emails." This public disagreement between a former director and the company has raised concerns among investors about the transparency and effectiveness of Kohl's corporate governance, likely contributing to the significant stock price decline.