Kohl’s CEO to step down, be replaced by Michaels CEO

MADISON, Wis. (WMTV) - The head of Kohl’s is set to step down in 2025, the Wisconsin-based company announced Monday.

Chief Executive Officer Tom Kingsbury will leave his role on January 15, 2025. He will become an advisor to the new CEO until he retires in May 2025.

““I’ve loved working in the retail industry for more than 40 years and it’s been an honor to finish my career at Kohl’s, a company that I’ve known and loved since I was a kid in Wisconsin,” Kingsbury said.

Ashley Buchanan, CEO of Michaels Companies will become the new CEO on Jan. 15, Kohl’s announced. He has been CEO of Michaels since 2020, and worked in leadership for Walmart and Sam’s Club before that.

Kohl’s is headquartered in Menomonee Falls, Wisconsin.

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