Kohl’s names Michaels CEO Ashley Buchanan to assume top job, effective Jan. 15 ...Middle East

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NEW YORK (AP) — Department store retailer Kohl’s Inc. says Michaels CEO and retail veteran Ashley Buchanan will take over its top job, effective January 15. Buchanan succeeds Tom Kingsbury, who will stay as an advisor to the new CEO and retain his position on Kohl’s board until his retirement in May 2025. Kingsbury served as Kohl’s interim CEO in December 2022 and was named its permanent leader in February 2023. Buchanan will assume the leadership of Kohl’s at a time when the retailer has wrestled with sluggish sales. Its middle income shoppers have pulled back on discretionary spending in the face of still high prices for necessities. Like other department stores, it’s also faced stiff com

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