Kohl's Fires CEO Ashley Buchanan Over Vendor Relationship

Kohl's has terminated the employment of its Chief Executive Officer, Ashley Buchanan, due to an undisclosed personal relationship with an individual involved in a vendor consulting team. According to a regulatory filing released by the company, this team secured a multi-million dollar deal with Kohl's, allegedly under Buchanan's guidance.

The company stated that Buchanan's failure to disclose this relationship violated company policy and presented a conflict of interest. While the specific nature of the relationship and the exact value of the deal remain undisclosed, the company emphasized that transparency and ethical conduct are paramount.

Kohl's is currently searching for a permanent replacement for Buchanan. In the interim, leadership responsibilities have been assumed by other senior executives. The company's board of directors is committed to finding a leader who will uphold the highest standards of integrity and guide Kohl's toward continued success in the competitive retail landscape.