Kohl’s has named a new CEO—its third in less than two years.
Ashley Buchanan (pictured), the CEO of art and crafting chain Michaels, will take over as Kohl’s CEO on Jan. 15. He will also join the company’s board.
Buchanan will replace Tom Kingsbury, who became interim CEO of the department store in December 2022, succeeding Michelle Gass, and was named “permanent” CEO in February 2023.
Kingsbury will remain with Kohl’s through May 2025 in an advisory role to the new CEO and as a member of the board.
Prior to becoming CEO of Michaels in 2020, Buchanan, 50, worked for Walmart for 13 years, holding various senior executive positions, including chief merchandising and chief operating officer for Walmart U.S. e-commerce and chief merchant at Sam’s Club.
“During his time at Michaels, [Buchanan] improved profitability and cash flow while driving operational efficiencies across the business,” said Kohl’s board chair Michael Bender in a statement. “He also introduced new ways to leverage technology and e-commerce, allowing Michaels to more effectively meet customers where they are today.”
(Photo courtesy of Kohl’s)
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