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Kohl announced Thursday that he had fired CEO Ashley Buchanan after an investigation found him violated the company’s policies.
The retailer said the board ended Buchanan after the investigation determined that Mr. Buchanan had violated the company’s policies by directing him to engage in a vendor transaction with a private conflict of interest.
His firing had nothing to do with the company’s “performance, financial reporting, or performance of operations.” Nor was the other employees involved.
The company has selected board chair Michael Bender to run the retailer on a tentative basis to begin searching for a new permanent CEO.
This is a developing story. Please check for updates.
