Kohl’s CEO Kingsbury to step down

(Reuters) – Kohl’s (NYSE:) said on Monday that Tom Kingsbury plans to step down as CEO, effective Jan. 15, 2025, and will be replaced by Ashley Buchanan.

The company said Kingsbury will stay in an advisory role to the new CEO and retain his position on Kohl’s board through his retirement in May 2025.

Kohl’s shares were down about 4% in extended trading.