New York CNN —
Kohl’s announced its CEO Tom Kingsbury will step down on January 15, 2025, and will be replaced by the CEO of arts and crafts retailer Michaels.
Ashley Buchanan, the next Kohl’s CEO, has been CEO of Michaels since 2020 and was a senior executive at Walmart and Walmart-owned Sam’s Club for 13 years.
Kingsbury became interim CEO in 2022 and then agreed to take over as permanent CEO until May 2025, board chair Michael Bender said in a statement Monday. He took over after former Kohl’s chief executive Michelle Gass announced
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