Kohl’s Corp. has promoted Michael J. Bender, who has been serving as interim chief executive officer of Kohl’s Corp. since May, to chief executive officer, the company announced Monday.
“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,” board chair John Schlifske said in a statement Monday. “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.
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“As previously shared, the board engaged an external firm and conducted a comprehensive search,” Schlifske added. “At the conclusion of this effort, the board enthusiastically and unanimously appointed Michael as CEO.”
News of Bender’s promotion comes one day before Kohl’s is scheduled to release its third-quarter results.
Kohl’s has been struggling for several seasons, but there have been signs that recent initiatives are starting to bear fruit. Private brands, petites, fashion and fine jewelry, opening price points and coupons are central to the value-oriented, family chain’s turnaround strategy.
For its second quarter ended Aug. 2, Kohl’s reported margin gains, expense reductions and merchandise improvements, and lifted its profit forecast for 2025. While net sales decreased 5.1 percent to $3.35 billion last quarter and comparable sales declined 4.2 percent, the declines were not as bad as expected. Net income at the Menomonee Falls, Wis.-based family-oriented value chain rose to $153 million in the quarter from $66 million in the year-ago quarter, and adjusted net income last quarter slipped to $64 million from $66 million in the year-ago period.
“I’m honored to take on the role of CEO at Kohl’s,” said Bender, who will remain on the Kohl’s board, where he has been a director since 2019, including as board chair until he was appointed interim CEO last May.
“Working with the teams over the last six months has deepened my love of this company and my conviction in what’s possible for our future,” Bender added. “Kohl’s has a storied and important role in the retail industry, serving and celebrating families with great products, compelling value, and a differentiated shopping experience. I’m looking forward to reestablishing our leadership position by putting our customers first every day. While we’re pleased by our recent progress, we’re deeply motivated to accelerate our transformation — together with our partners, vendors, and incredible Kohl’s associates all across the country.”
Bender moved into the role as Kohl’s interim CEO rather suddenly, after the board fired then CEO Ashley Buchanan following an investigation revealing that Buchanan violated company policies by directing the company to engage in vendor transactions that involved undisclosed conflicts of interest.
Before joining Kohl’s, Bender served as president and CEO of Eyemart Express from
January 2018 to April 2022, and president from September 2017 to January 2018. Prior to Eyemart Express, he held executive management positions at Walmart, including chief operating officer of global e-commerce and executive vice president and president of the Walmart West business unit.
Prior to Walmart, Bender held senior positions at Cardinal Health Inc., and Victoria’s Secret for L Brands Inc. He began his career at PepsiCo Inc., where he spent more than a decade in sales, finance and operational roles.
