Full Breakdown
Kohl's Appoints Michael Bender as Permanent CEO Amid Sales Decline
11/25/2025, 7:23:22 AM
Leadership Changes and Background
Kohl's Corporation has appointed Michael Bender as its permanent chief executive officer, effective November 24, 2025. Bender, who served as interim CEO since May 2025, is the fourth individual to hold the CEO position in as many years. His predecessor, Ashley Buchanan, was terminated after an internal investigation revealed he had engaged in vendor transactions involving undisclosed conflicts of interest. This leadership change comes as Kohl's grapples with a prolonged sales decline, exacerbated by a challenging retail environment.
The Context of Leadership Turmoil
Bender's appointment follows a tumultuous period for Kohl's, which has seen a significant drop in sales over the past several years. The company reported a 5.1% decrease in net sales for the second quarter of 2025, with projections indicating a further decline of 5% to 6% for the fiscal year. Bender, who has over 30 years of experience in retail management, previously held executive roles at Walmart, Victoria's Secret, and Eyemart Express. His extensive background includes serving on Kohl's board since July 2019, where he was chair prior to becoming interim CEO.
Official Statements and Responses
John Schlifske, Chairman of Kohl's board, expressed confidence in Bender's leadership, stating, “Over the past several months as interim CEO, Michael has proven to be an exceptional leader for Kohl’s – progressively improving results, driving short- and long-term strategy, and positively impacting cultural change.” Bender himself remarked on his commitment to the company, emphasizing the importance of customer focus and the need to accelerate transformation efforts.
Criticism and Opposition
Despite the optimism surrounding Bender's appointment, analysts have voiced concerns about Kohl's ongoing struggles. Neil Saunders, an analyst with GlobalData, noted that Kohl's has been one of the worst performers in retail, attributing its chronic underperformance to operational issues and a lack of clear strategy. The company faces significant challenges, including competition from online and big-box retailers, as well as economic pressures affecting consumer spending.
What's Next for Kohl's
Kohl's is set to release its third-quarter earnings results on November 25, 2025, which will provide further insight into the company's performance under Bender's leadership. The retailer's ability to navigate its current challenges and implement effective strategies will be critical in determining its future trajectory in the competitive retail landscape.
Verbatim Quotes
- “The appointment of Michael Bender as permanent CEO of Kohl's brings some much-needed stability to the beleaguered chain,” — Neil Saunders, Analyst, GlobalData
- “I’m honored to take on the role of CEO at Kohl’s. Working with the teams over the last six months has deepened my love of this company and my conviction in what’s possible for our future,” — Michael Bender, CEO, Kohl's
Kohl's faces a pivotal moment as it seeks to reverse its sales decline and restore its position in the retail market under Bender's leadership.
