Shares of Kohl's Corporation (NYSE: KSS) were up nearly 10% on Thursday after the company fired CEO Ashley Buchanan after just four months on the job, appointing Chairman Michael Bender as interim chief executive officer effective immediately.
Ashley Buchanan's tenure as CEO of department store chain Kohl's was short-lived. Buchanan, who became Kohl's chief executive Jan.
Kohl's has terminated its new CEO Ashley Buchanan after an investigation determined that he directed the retailer to engage in vendor transactions that involved undisclosed conflicts of interest.
Kohl's board of directors said they fired CEO Ashley Buchanan over "conflicts of interest." Buchanan became CEO in January.
The discount department store's stock recently closed at a 30-year low, and had been losing to those of its rivals by a wide margin.
Kohl's fired CEO Ashley Buchanan after he allegedly directed the company to enter a multi-million dollar agreement with a group that included a personal contact, the company said.
Kohl's canned its chief executive — hired just four months ago — after an investigation showed that he violated the retailer's conflict of interest policies, the company said on Thursday. Ashley Buchanan directed Kohl's to “engage in vendor transactions that involved undisclosed conflicts of interest,” the company said.
Kohl's fired CEO Ashley Buchanan "for cause" after an investigation found he allegedly violated company policies, the company said Thursday.
Kohl's fired CEO Ashley Buchanan after an investigation found he "violated company policies" related to conflicts of interest, the retailer announced Thursday.
Kohl's said an investigation found Ashley Buchanan violated company policies related to conflicts of interests with certain vendors.
An outside investigation finds that CEO Ashley Buchanan had violated company policy.
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