Kohl’s promotes interim CEO and 30-year retail veteran Michael J. Bender to be its permanent chief

Kohl’s Appoints Michael Bender as Permanent CEO After Months of Interim Leadership

In a bid to reverse years of declining sales, Kohl’s has named Michael Bender as its permanent chief executive officer, ending a seven-month period during which he served in an interim capacity. The appointment, announced Monday, marks the company’s fourth CEO in as many years, highlighting the leadership turbulence at the struggling retailer.

Bender stepped into the interim role in May following the abrupt dismissal of Ashley Buchanan. According to company statements at the time, Buchanan was terminated after an internal investigation revealed he had directed business toward a vendor founded by someone with whom he maintained a personal relationship—a clear conflict of interest that violated company policy.

“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,” said Chairman John Schlifske in a statement. He added that the board conducted a comprehensive search using an external firm before “enthusiastically and unanimously” appointing Bender to the permanent position.

Bender brings substantial retail experience to the role, with a 30-year career that includes executive positions at retail giants Walmart and PepsiCo. This extensive background may prove crucial as Kohl’s attempts to navigate an increasingly challenging retail landscape.

The Wisconsin-based department store chain has struggled for years with declining annual sales, failing to find a sustainable growth strategy despite numerous initiatives. The company has attempted various turnaround strategies, including partnerships with Amazon for returns processing and introducing Sephora shop-in-shops to attract younger customers, but these efforts have yet to produce consistent positive results.

Kohl’s leadership challenges come amid a particularly volatile period for the retail sector. Consumers continue to feel the pressure of persistent inflation, which has forced many to become more selective in their spending habits. Additionally, a softening U.S. labor market has further constrained consumer budgets, with recent data showing signs of weakening employment figures after years of resilience.

Retailers are also contending with unpredictable trade policies that affect supply chains and product costs. Import tariffs and international trade tensions have created additional complications for companies attempting to manage inventory and maintain profit margins.

Industry analysts suggest that Bender’s immediate challenges will include addressing Kohl’s merchandise assortment, which critics have described as unfocused, and modernizing the shopping experience to compete with more nimble competitors. The company has lost market share to off-price retailers like TJX Companies (owner of T.J. Maxx and Marshalls) and online competitors that offer greater convenience.

Investors and industry observers will be watching closely as Kohl’s prepares to release its third-quarter earnings results on Tuesday. The report will provide further insight into whether recent strategic shifts have begun to yield positive results and could offer the first substantive look at Bender’s initial impact as interim leader.

Despite the significant announcement, shares of Kohl’s Corp. remained unchanged in Monday trading, suggesting investors are taking a wait-and-see approach to the leadership appointment.

The stabilization of leadership comes at a critical juncture for Kohl’s, which has fended off activist investor pressure and acquisition attempts in recent years. Whether Bender can succeed where his predecessors failed—delivering sustainable growth in an increasingly competitive retail environment—remains the central question for the company’s future.