New Leadership for Struggling Retail Giant
American department store chain Kohl's has announced a permanent chief executive, nearly seven months after his predecessor was fired amidst a scandal concerning an inappropriate relationship. The retailer, which has seen annual sales fall for several years, named Michael Bender as its new CEO on Monday 24 November 2025.
This appointment marks the fourth CEO in as many years for Kohl's, highlighting the company's turbulent leadership as it attempts to staunch an extended sales slide and recover from the recent controversy.
A Scandal and an Interim Succession
Bender replaces Ashley Buchanan, who was dismissed in May following an internal investigation. The probe found that Buchanan had directed Kohl's to conduct business with a vendor founded by an individual with whom he had a personal relationship.
Michael Bender, a retail veteran with 30 years of experience at companies including Walmart and PepsiCo, took over the role on an interim basis at that time. Chairman John Schlifske stated that during his interim tenure, Bender had proven to be an "exceptional leader", progressively improving results and driving strategic change.
Navigating a Volatile Retail Climate
The leadership change occurs against a challenging backdrop for the retail sector. Companies are grappling with inflation-weary customers and a weakening jobs market, all while navigating erratic trade policies.
For Kohl's, these macro challenges are compounded by its own specific struggles. The company, headquartered in Menomonee Falls, Wisconsin, has faced declining annual sales and has struggled to find a sustainable path to profit growth. All eyes are now on the company's third-quarter earnings results, scheduled for release on Tuesday, for signs of a turnaround under its new permanent leadership.
The board confirmed it conducted a comprehensive search using an external firm before unanimously appointing Bender to the role, expressing confidence in his ability to lead the company forward.
