Kohl’s has appointed former Walmart executive Ashley Buchanan as chief executive as the department store aims to lure back its value-seeking customer base amid falling sales.

Mr. Buchanan will be the third chief executive at Kohl’s since 2018. Tom Kingsbury has served as interim chief executive since Michelle Gass left in December 2022 to run Levi Strauss & Company. Mr. Kingsbury will retain his seat on the board of directors until he retires in May.

Kohl's names Ashley Buchanan its new chief executive. An overview of challenges he will likely face as Kohl's CEO.

Kingsbury will remain with Kohl’s in an advisory role to Buchanan and stay on the board until he retires in May.

Kohl’s has named Ashley Buchanan, CEO of Michaels, as its new CEO, effective Jan. 15, 2025, when current Kohl’s CEO Tom Kingsbury will step down.

Tom Kingsbury will step down as top boss of Kohl’s Corporation (NYSE:KSS) effective January 15, 2025, the company said in a statement Monday. He will be replaced by Ashley Buchanan as CEO. Buchanan has been the chief executive of Michaels Companies since 2020 and,

Buchanan joins Kohl’s from Michaels Companies, where he has served as CEO since 2020. Here, he was credited with improving profitability, expanding the company’s omnichannel approach and growing the digital business.

Kohl's announced that CEO Tom Kingsbury is stepping down in January. He will be replaced by Ashley Buchanan, the current chief executive of arts and crafts retailer Michaels.

Kohl’s Corp. named the chief executive officer of Michaels Cos. to lead the retailer as it looks to recover from a deep sales slump.