But Kohl’s outgoing CEO Tom Kingsbury had no trouble this week owning up to mistakes that led to a steep drop in the retailer’s quarterly sales.Kohl’s scaled back popular private-label brands, fine jewelry and petite clothing sizes—moves that turned off shoppers and contributed to a 9.

Kohl's CEO Tom Kingsbury will step down after less than two years at the helm, paving the way for former Walmart executive Ashley Buchanan to take on the role as the department store chain looks to execute a turnaround.

He replaces Tom Kingsbury, whose initial contract to lead the department store chain was set to expire in early 2025.

(Reuters) - Kohl's said on Monday that Tom Kingsbury plans to step down as CEO, effective Jan. 15, 2025, and will be replaced by Ashley Buchanan. The company said Kingsbury will stay in an advisory role to the new CEO and retain his position on Kohl's board through his retirement in May 2025.

Kohl’s stock fell in after-hour trading Monday following the department store’s announcement that CEO Tom Kingsbury is retiring at the end of the year. The company has named Ashley Buchanan, current CEO of Michaels,

He will become an advisor to the new CEO until he retires in May 2025. ““I’ve loved working in the retail industry for more than 40 years and it’s been an honor to finish my career at Kohl’s, a company that I’ve known and loved since I was a kid in Wisconsin,