THE WHAT? Kohl’s has announced that its Chief Executive Officer, Michelle Gass is to step down from her role as CEO to accept another opportunity.
THE DETAILS The Board has named Tom Kingsbury as interim CEO, effective December 2, 2022, until a permanent successor is named. The Board has also appointed a committee to oversee the search for a new CEO.
A Kohl’s Director since 2021, Kingsbury has held various senior positions at leading retailers, including President and CEO of Burlington Stores, Senior Executive Vice President of Kohl’s, and several management positions at The May Department Stores Company, including President and CEO of its Filene’s division. He is currently a Director of Tractor Supply Company, BJ’s Wholesale Club Holdings, Inc. and Big Lots, Inc.
“The Board is grateful for Michelle’s many contributions since she joined the Company in 2013,” said Board Chair Peter Boneparth. “Under her leadership, the Company has driven a strategic transformation, expanded its partnerships and brand portfolio, and supported an inclusive and collaborative culture. On behalf of all Kohl’s associates, we wish her well in her next endeavor.”
THE WHY? Gass has accepted the role of President, LS&Co, responsible for leading the Levi’s brand. She revealed, “I am incredibly proud of what the team at Kohl’s has accomplished and I’m very confident in their ability to drive continued innovation, growth and value for customers. Kohl’s associates and brand partners are an inspiration to me, and I am truly grateful to have had the opportunity to work with this great team and company.”