Kohl’s has announced Ashley Buchanan as its next CEO, set to assume the role in early 2025. The leadership change follows the decision of current CEO Tom Kingsbury to step down on 15th January 2025. Kingsbury will remain with the company as an executive advisor and board member until his retirement in May 2025.
Buchanan brings extensive retail experience, having served as CEO of Michaels Companies since 2020. During his tenure, he boosted profitability, expanded omnichannel operations, introduced smaller store formats, and streamlined merchandise strategies. Prior to Michaels, Buchanan held executive roles at Walmart for 13 years, including Chief Merchandising and Chief Operating Officer for Walmart US e-commerce. He also served as Chief Merchant at Sam’s Club, overseeing merchandising strategy, private brands, pricing, and supply chain.
Kohl’s Board Chairman Michael Bender praised Buchanan’s expertise, stating, “Ashley’s vast experience in operations, merchandising, and e-commerce will provide steady and innovative leadership as we drive growth and transformation.”
Reflecting on his time at Kohl’s, Kingsbury expressed gratitude, stating, “It has been an honour to end my career at a company I’ve admired since childhood.”
