Kohl’s CEO Fired After 106 Days: The Scandal That Shook Wall Street

Kohl’s CEO Ashley Buchanan has been fired just 106 days into his tenure after an internal investigation revealed serious ethical violations. He allegedly directed business to a company owned by his romantic partner, Chandra Holt, under unusually favorable terms, without disclosing their relationship. This breach of Kohl’s code of ethics has led to his dismissal and forfeiture of significant financial benefits. Despite ongoing struggles, Kohl’s stock surged nearly 10% following the announcement, as investors reacted positively to the leadership change and better-than-expected Q1 forecasts. Michael Bender, Kohl’s chairman, has been appointed interim CEO while the company searches for a permanent replacement.

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