Kohl's Fires CEO Ashley Buchanan Amid Vendor Conflict Investigation

Kohl’s has fired CEO Ashley Buchanan after an internal investigation revealed he directed the company to engage in vendor transactions involving undisclosed conflicts of interest, constituting a violation of company policy. The board emphasized that Buchanan’s termination was not related to company performance or financial reporting, nor did it implicate any other employees. This abrupt leadership change comes just five months after Buchanan assumed the role, making him the third CEO to depart the retailer in less than three years and raising concerns about corporate governance and stability. Board Chair Michael Bender has been appointed interim CEO as the company launches a search for a permanent replacement. The leadership turmoil has shaken investor confidence, with analysts warning of potential long-term financial and reputational consequences for the retailer. The incident highlights ongoing governance challenges at Kohl’s and the heightened scrutiny on executive conduct within major retail chains.