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Kohl's board fight spills into the open with director departure

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Kohl's said the recent departure of a board director was related to a disagreement with the company.
The article from Fortune discusses the ongoing boardroom battle at Kohl's, a major U.S. retail chain, amid a challenging period marked by the departure of CEO Michelle Gass and a director, Thomas Kingsbury. The conflict centers around activist investors, including Macellum Advisors and Ancora Holdings, who are pushing for significant changes in the company's strategy and governance. These investors are advocating for the addition of new board members to steer Kohl's away from what they perceive as a failing strategy, particularly in light of Kohl's recent performance and the broader retail sector's struggles. The situation is further complicated by Kohl's rejection of a $60 per share buyout offer from the Franchise Group, which the activist investors supported, highlighting the deep divisions within the company's leadership and its future direction.

Read the Full Fortune Article at:
[ https://fortune.com/article/kohls-board-fight-ceo-director-depature-shopping-retail/ ]


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