Kohl’s Fires CEO Ashley Buchanan

Kohl’s CEO Ashley Buchanan Fired After Alleged Conflict of Interest With Former Romantic Partner

Just four months into his role, Ashley Buchanan’s tenure as Kohl’s CEO has come to an abrupt and controversial end. According to company officials and a Wall Street Journal investigation, Buchanan was terminated after internal findings revealed he was involved in a questionable business deal with someone from his past — a former romantic partner.

The internal probe concluded that Buchanan had pushed the retail giant to move forward with what was described as a “highly unusual” vendor agreement. The twist? The deal allegedly involved Chandra Holt, a former colleague of Buchanan’s from his time at Walmart — and, notably, someone with whom he had a prior personal relationship.

Kohl’s confirmed on Thursday that Buchanan had directed the company to engage in vendor transactions that involved undisclosed conflicts of interest. While the vendor itself was not named in the official filing submitted to the Securities and Exchange Commission (SEC), the implications were clear: Buchanan had personal ties to the people behind the scenes.

The move has sent shockwaves through the retail and business communities, with many questioning how such a high-level oversight could happen at a Fortune 500 company. The situation underscores the increasing scrutiny corporate boards are applying to executive behavior — especially when ethical boundaries become blurred by personal relationships.

This marks a dramatic fall for Buchanan, who was brought on with high hopes just months ago. His leadership style, retail experience, and former executive role at Walmart were seen as promising assets for a company looking to redefine its strategy in an evolving retail landscape. But now, those ambitions are overshadowed by a scandal that raises serious concerns about governance and transparency at the top.

What’s Next for Kohl’s?
As the retailer navigates this sudden leadership shake-up, all eyes are on the board to see how they restore trust — both internally and among investors. One thing is certain: in today’s corporate world, even the perception of impropriety can be enough to end a CEO’s career in an instant.

[Kohl’s Fires CEO Ashley Buchanan Over Alleged Favoritism Toward Ex-Partner](<http://www.viralal.com>) is the headline that has brought to light the recent developments at the company. The decision to terminate the CEO resulted from concerns surrounding favoritism towards a former partner, leading to a high-profile executive shake-up at Kohl’s. The company’s actions underline its commitment to upholding ethical standards and transparency within its leadership ranks.

Retail Power Duo Split Paths — Now at the Center of a Kohl’s Shake-Up

Before their names made headlines in a corporate controversy, Ashley Buchanan and Chandra Holt were rising stars in the retail world. Both climbed the executive ladder at Walmart, building impressive careers before departing for leadership roles at other major retailers in Texas.

Buchanan left Walmart in early 2020 to take the top job at Michaels, the national arts and crafts chain. Holt followed suit in 2021, becoming CEO of Conn’s HomePlus, a home goods retailer with a strong Southern U.S. presence.

In 2023, Holt stepped into an even more high-profile role as CEO of Beyond Inc., the parent company of Overstock.com and the rebranded Bed Bath & Beyond. Her tenure there lasted about a year.

Now, amid fallout from an internal investigation at Kohl’s, their professional paths are under renewed scrutiny. The retailer announced Buchanan’s sudden departure as CEO, citing undisclosed conflicts tied to a past relationship.

To stabilize leadership, Kohl’s has appointed board member Michael Bender as interim CEO, effective immediately. As the company works to restore confidence, the spotlight remains on executive accountability and transparency in America’s competitive retail sector.

Kohl’s Leadership Shifts as CEO Fallout Shakes Up the Boardroom

Following a high-stakes internal investigation, Kohl’s is undergoing a major leadership shift. Michael Bender, who has served on the retailer’s board since July 2019, was recently named board chair in May 2024. Now, he’s stepping in as interim CEO, following the abrupt firing of Ashley Buchanan.

The move comes after an audit committee-led probe found that Buchanan failed to disclose vendor relationships linked to a former romantic partner — a violation of corporate ethics. The company labeled the relationships “inappropriate” and confirmed that Buchanan was terminated for cause.

In response to the leadership change, Kohl’s stock surged nearly 6%, climbing to $7.09, signaling investor approval of the swift decision.

According to filings with the Securities and Exchange Commission (SEC), Buchanan will forfeit all equity-based compensation he received during his brief tenure. Additionally, he’s on the hook to repay a pro-rated portion of a $2.5 million signing bonus — a rare and public financial penalty for a top-level executive.

As Kohl’s moves to regain trust and stabilize its leadership team, the company is emphasizing transparency, ethical standards, and accountability — values now more important than ever in the eyes of consumers and shareholders alike.

Kohl’s Addresses CEO Exit as It Reports Declining Quarterly Sales

Despite the recent leadership shake-up, Kohl’s is making it clear that former CEO Ashley Buchanan’s termination hasn’t impacted its financial performance. In a statement released alongside preliminary first-quarter results, the retailer emphasized that the decision to part ways with Buchanan was unrelated to its current business operations.

The numbers, however, paint a challenging picture for the retail giant. Comparable sales are expected to drop between 4% and 4.3%, according to the company’s early financial report for the quarter. While the leadership change has dominated headlines, Kohl’s maintained that the decline in sales reflects broader market trends rather than internal disruptions.

For investors and shoppers alike, the update offers a glimpse into the hurdles Kohl’s is navigating while dealing with executive transitions and a competitive retail environment. The company remains focused on stabilizing operations under interim CEO Michael Bender as it continues to evaluate its long-term strategy.

As the industry watches closely, Kohl’s is working to reassure stakeholders that despite headline-making changes at the top, its path forward remains steady—though the retailer acknowledges there’s still work to be done to regain momentum.

Kohl’s Fires CEO Ashley Buchanan