MENOMONEE FALLS, Wis. (WRN) — Kohl’s has fired its new CEO less than five months into the job.
According to a release from the Menomonee Falls based retailer, Ashley Buchanan was dismissed “for cause” after an investigation found that he violated company policies by directing the company to engage in vendor transactions that involved undisclosed conflicts of interest. Kohl’s says Buchanan’s firing is unrelated to the company’s performance.
Kohl’s announced in January it was closing 27 stores, leaving around 1,100 stores left. Michael Bender has been selected to serve as interim CEO while the company looks to find a permanent person for the job.