Kohl's Corporation (KSS) stock surged 5.47% in intraday trading on Monday, following the announcement that Michael Bender has been appointed as the company's permanent Chief Executive Officer. This move marks a significant step towards leadership stability for the department store chain, which has seen four CEOs in as many years.

Bender, who has been serving as interim CEO since May, was unanimously chosen by Kohl's board of directors after a comprehensive search. His appointment is effective immediately, and he will continue to serve on the company's board, where he has been a director since 2019. The market's positive reaction suggests investors are optimistic about Bender's ability to steer Kohl's in the right direction after a period of leadership uncertainty.

Analysts view this appointment favorably, with Jefferies noting that Bender's extensive retail experience, including roles at Eyemart Express, Walmart, and PepsiCo, positions him well to advance Kohl's strategic initiatives. The company is focusing on improving merchandising, enhancing value propositions, and strengthening its omni-channel operations to drive growth. Bender's leadership is expected to build on recent improvements in financial results and corporate culture, addressing challenges such as declining same-store sales and the need for a clear turnaround strategy.