Kohl’s Corporation has announced the appointment of Ashley Buchanan as its new Chief Executive Officer, effective January 15, 2025. Buchanan succeeds Tom Kingsbury, who will remain with the company in an advisory role and retain his position on the board until his planned retirement in May 2025 .
The leadership transition comes as Kohl’s seeks to revitalize its business amid a challenging retail environment marked by shifting consumer behaviors and increased competition from both traditional and online retailers. Buchanan brings to the role extensive experience in retail operations, merchandising, and e-commerce, having previously served as CEO of Michaels Companies since 2020 and holding various senior executive positions at Walmart and Sam’s Club over a 13-year tenure .
During his time at Michaels, Buchanan was credited with improving profitability, expanding the company’s omnichannel approach, and simplifying its merchandise strategy. At Walmart, he led initiatives in merchandising and e-commerce, including serving as Chief Merchandising and Chief Operating Officer for Walmart U.S. e-Commerce .
Kohl’s Board Chair Michael Bender expressed confidence in Buchanan’s ability to lead the company through its next phase of transformation. “His vast retail experience leading operations, merchandising, and e-commerce at Walmart and his past five years as CEO of Michaels will bring a steady, proven, innovative leader to Kohl’s as we continue to transform the business and drive future growth,” Bender stated .
Buchanan’s appointment follows a period of strategic shifts at Kohl’s, including efforts to enhance its product offerings, improve the in-store experience, and strengthen its financial health. The company has faced challenges in recent years, with declining sales and increased pressure from competitors. In its most recent quarter, Kohl’s reported a 4.2% year-over-year decline in net sales, with comparable sales falling 5.1% .
In a statement, Buchanan expressed enthusiasm for his new role, saying, “I am thrilled to join Kohl’s, a storied and respected brand in the retail industry. We have the privilege of serving millions of families all across the country, and I’m excited to work with the teams to evolve our business – building off the strength of our brand and loyal customer base while also creating a compelling retail experience for the future” .
As Buchanan takes the helm, Kohl’s aims to leverage his expertise to navigate the evolving retail landscape and position the company for sustained growth. The leadership change reflects Kohl’s commitment to adapting its strategies to meet the needs of today’s consumers and to remain competitive in a rapidly changing market.
