
Kohl’s Announces CEO Transition as Tom Kingsbury Steps Down, Ashley Buchanan to Take Over in 2025
Kohl’s Corporation (NYSE: KSS) has announced that Chief Executive Officer Tom Kingsbury will step down on January 15, 2025, after leading the company for several years. Kingsbury will remain in an advisory role and continue as a member of Kohl’s Board of Directors until his retirement in May 2025. Following his departure, the board will be reduced by one seat.
Ashley Buchanan, a seasoned retail leader, has been appointed as the new CEO, effective January 15, 2025. Buchanan brings extensive experience, having served as CEO of Michaels Companies since 2020, and held senior roles at Walmart and Sam’s Club during his 13 years with the company.
Board Chair Michael Bender expressed gratitude for Kingsbury’s leadership, noting his instrumental role in transforming Kohl’s, enhancing its product offerings, and improving financial health. Bender also welcomed Buchanan, highlighting his retail expertise and leadership in driving profitability, operational efficiencies, and digital growth at Michaels. Buchanan’s leadership is expected to usher in a new phase of innovation and growth for Kohl’s.
Kingsbury shared his pride in working at Kohl’s, a brand he has admired since childhood, and expressed optimism for the company’s future. Buchanan, in his statement, expressed excitement about leading Kohl’s, building on the strength of its brand and loyal customer base while evolving the retail experience.
Before leading Michaels, Buchanan held various roles at Walmart, including Chief Merchandising Officer and Chief Operating Officer for Walmart U.S. e-Commerce. He also served as Chief Merchant at Sam’s Club, focusing on merchandising strategy and supply chain management. Buchanan holds a Bachelor of Business Administration in finance and real estate and an MBA from Baylor University.
Third Quarter 2024 Results
Kohl’s will release its Q3 earnings results on November 26, 2024, at 9:00 a.m. ET. The webcast and presentation materials will be available on the company’s investor website at investors.kohls.com.
About Kohl’s
Kohl’s (NYSE: KSS) is a leading omnichannel retailer with over 1,100 stores in 49 states, and a robust online presence. The company is committed to offering great brands, value, and convenience for its customers while positively impacting the communities it serves.
This press release contains forward-looking statements about the company’s plans and future performance, subject to certain risks and uncertainties that could cause actual results to differ from those projected. These risks are outlined in the company’s filings with the SEC.