WSJ: Kohl’s CEO Fired Over Business Deal With Lover

The Wall Street Journal reports:

Kohl’s fired its chief executive Ashley Buchanan after it discovered he had instructed the retailer to enter into a “highly unusual” business deal involving a woman with whom he has had a romantic relationship, according to people familiar with the situation.

Buchanan met the woman, Chandra Holt, when they were both working at Walmart several years ago, the people said. Buchanan went on to run crafts chain Michael’s and took over as Kohl’s CEO in November. Holt went on to become the CEO of Bed Bath & Beyond. She is now a consultant and the founder of Incredibrew, a coffee brand infused with vitamins and minerals.

Buchanan declined to comment. Holt couldn’t immediately be reached for comment. A Kohl’s board investigation found that Buchanan violated the company’s code of conduct in two instances with a vendor with whom he had a personal relationship and whom it didn’t name, according to a regulatory filing.

Read the full article.

Exclusive: Kohl’s fired its CEO for funneling business to a romantic partner.

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— The Wall Street Journal (@wsj.com) May 1, 2025 at 11:15 AM