Kohl’s has made Michael Bender’s position as interim CEO permanent following a comprehensive search for a new leader by the retailer’s board. Bender was named interim CEO in May 2025 following Kohl’s termination of former CEO Ashley Buchanan for “engaging in vendor transactions that involved undisclosed conflicts of interest,” although the company said that Buchanan’s actions were not related to the company’s performance and did not involve anyone else.
“Over the past several months as interim CEO, Michael has proven to be an exceptional leader for Kohl’s — progressively improving results, driving short- and long-term strategy, and positively impacting cultural change,” said John Schlifske, Chair of the Kohl’s board in a statement. “With three decades of leadership experience across retail and consumer goods companies and a deep commitment to the Kohl’s brand, we are confident Michael will continue to lead the company forward in a way that will benefit our associates, customers and shareholders.”
Prior to joining Kohl’s in 2019, Bender was President and CEO of optical retailer Eyemart Express. Earlier work experience included executive management positions at Walmart, including COO of Global Ecommerce and EVP and President of the Walmart West business unit. Bender also held senior positions at Cardinal Health and Victoria’s Secret.
Bender and Kohl’s are facing big challenges, as are many department store retailers. For Q2 2025, which ended Aug. 2, 2025, Kohl’s net sales dropped 5.1% year-over-year to $3.3 billion, with comparable sales falling 4.2%. When these figures were released, Kohl’s forecast that net sales for the full fiscal year would decrease by 5%-6%. Then in May 2025 Kohl’s put 11 distribution centers in a holding company to use as collateral for $360 million in senior secured notes. Kohl’s will release its Q3 financial results on Nov. 25.
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