Kohls CEO released the ethics scandal

In a dramatic turn of events, the Kohls Corporation CEO Ashley Buchanan ended after an internal investigation resulted in serious ethical violations that affect conflicts of interest with a seller associated with his romantic partner.​

Why was Kohl's CEO released?

Ashley Buchanan, who took the helm at Kohl's in January 2025, was released after an investigation that he had instructed the company to get involved with Incredibrew, a seller founded by his romantic partner Chandra Holt. The shops, including a consultation contract of several million dollars, were concluded on unusually favorable conditions and without proper disclosure that violated Kohl's ethics code.

As a result, Buchanan fulfilled all stock prices and had to repay part of its signing bonus of 2.5 million US dollars. ​

Who is Ashley Buchanan?

Ashley Buchanan is an American managing director with a background in retail. Previously, he was CEO of the Michaels Companies and had leading roles at Walmart, including Chief Merchandising Officer for Walmart.com. ​

Buchan's term at Kohl's was particularly short and took less than four months. Its discharge marks the third CEO at Kohls in just as many years, which reflects the continued instability of the leadership because the fighting retailer is revived. ​

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Is Ashley Buchanan the new CEO from Kohl?

No, Ashley Buchanan is no longer the CEO of Kohls. After his termination, Kohls has appointed Michael Bender, a member of the board and former CEO, since 2019. Bender has more than 30 years of management experience in retail and consumer goods after having leadership positions at Walmart, L Brands and Pepsico. ​

The company has initiated a search for a constant CEO to lead Kohl through its ongoing transformation efforts.​

Kohls are still facing challenges in the competitive retail landscape, whereby the sales and shift of the consumer are changed. The management change aims to restore trust and to steer the company towards sustainable growth.