Monday, 6 February 2023


Kohl’s close to naming Tom Kingsbury as permanent CEO

Kohl's close to naming Tom Kingsbury as permanent CEO - NYT

© Reuters. FILE PHOTO: The Kohl’s label is seen on a shopping cart in a Kohl’s department store in the Brooklyn borough of New York, U.S., January 25, 2022. REUTERS/Brendan McDermid/File Photo

(Reuters) – Department store chain Kohl’s Corp (NYSE:) is in late-stage talks to name Tom Kingsbury as its permanent chief executive, the New York Times reported on Wednesday, citing two people familiar with the situation.

Kingsbury was named interim CEO in December, after Michelle Gass left Kohl’s to become the top boss at Levi Strauss & Co (NYSE:). 

The appointment will come as the department store chain is struggling with declining sales and greater pressure from activist investors.

In November, Kohl’s withdrew its 2022 sales and profit forecasts, blaming an uncertain economic outlook and the departure of Gass.

The company does not comment on “rumors or speculation”, a spokesperson told Reuters.

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