Kohl’s newly appointed CEO has just been fired.
Kohl’s CEO, Ashley Buchanan, who was appointed as CEO of the department chain Kohl’s five months ago, was forced out over “unethical behavior.”
An investigation by hired outside investigators revealed that Buchanan “violated company policies by directing the company to engage in vendor transactions that involved undisclosed conflicts of interest.”
The current chairman of the Kohl’s board, Michael Bender, will serve as the interim CEO.
The news of the firing didn’t faze Wall Street, and Kohl’s stock price soared 8% following the news of Buchanan being canned.
Bloomberg TV, broke down Buchanan’s firing:
Kohl’s fired CEO Ashley Buchanan after the board found he directed the company to do millions of dollars of business with someone he
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