Kohl’s to name Michael Bender as permanent CEO, Bloomberg News reports

Kohl’s Corp is expected to appoint Michael Bender as its permanent chief executive as early as Monday, Bloomberg News reported on Sunday, citing a person familiar with the matter.

The board interviewed several candidates before opting to appoint Bender, according to the report.

Reuters could not immediately verify the report. Kohl’s did not immediately respond to a Reuters request for comment.

Michael Bender could not be immediately reached for a comment on the role change.

In May, the struggling department-store retailer fired former CEO Ashley Buchanan after an investigation uncovered his undisclosed personal relationship with a vendor whose deals he had aggressively pursued, barely 100 days into the role.

Weak holiday sales at Kohl’s, J.C. Penney spell more trouble for stores

Buchanan’s firing in May was the third CEO change in three years for Kohl’s, hit by falling sales from online and big-box rivals, plus its own missteps.

Kohl’s named Bender as its interim CEO effective immediately following the ouster of Buchanan, and said that the search for a permanent chief executive would begin soon.

Bender has served on Kohl’s board as a director since July 2019 and brings more than 30 years of senior leadership experience at major retailers, including Walmart, Victoria’s Secret and Eyemart Express.