Kohl’s names Tom Kingsbury chief executive officer
What: Kohl’s has named board member and interim CEO, Tom Kingsbury, as its new Chief Executive Officer
Why it is important: This is a pivotal time for Kohl’s as the business has been underperforming for several seasons.
Kingsbury joins Kohl’s with an extensive background in discounting and department store retailing. He is responsible for elevating Burlington, rising the stock price from USD 25 to more than USD 200 during his time with the company.
However, the new leader has a tough turnaround ahead of him as the retailer has seen a declining performance by the business and its stock prices.
Kohl’s also announced it entered into a cooperation agreement with Macellum Advisors, who was responsible for pushing the previous CEO, Michelle Gass, out of her position.
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