Kohl’s has terminated CEO Ashley Buchanan after an investigation determined that he directed the retailer to engage in vendor transactions that involved undisclosed conflicts of interest.
Kohl’s named Chairman Michael Bender as interim CEO, effective immediately.
The company said Thursday that Buchanan’s firing is unrelated to its performance, financial reporting, results of operations and did not involve any of its other employees.
Kohl’s will conduct a search for a permanent CEO and said it will name a new chair in due course.