Kohl’s said Thursday it has named acting CEO Tom Kingsbury as its permanent leader, according to a report from the Associated Press.
Kingsbury, a Kohl’s board member with more than 40 years of experience in retail, has served as an interim CEO since early December, when Michelle Gass left the department store chain to become president of jeans maker Levi Strauss & Co.
Kohl’s, based in Menomonee Falls, has faced pressure from activist shareholders to turn around its business. Kingsbury joined the Kohl’s board in 2021 as part of a pact between the retailer and those investors, including Macellum Advisors, who have pressed the company to make changes to boost its share price.
Shares of Kohl’s Corp. slipped about 1% in extended trading after the appointment was announced. They have fallen about 41% in the past year.
