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Posted 02 February, 2023

KOHLS Corp appointed Thomas Kingsbury as new CEO

NYSE:KSS appointed new Chief Executive Officer Thomas Kingsbury in a 8-K filed on 02 February, 2023.


  On February 2, 2023, the Board of Directors (the "Board") of the Company appointed Thomas Kingsbury as Chief Executive Officer ("CEO") of the Company, effective as of February 2, 2023.  

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Overview of KOHLS Corp
Retail/Wholesale • Clothing Retail
Kohl's Corp. engages in the operation of family-oriented department stores. Its business line includes apparel, footwear, and accessories for women, men, and children, home products, beauty products, and accessories. The stores generally carry a consistent merchandise assortment with some differences attributable to regional preferences. The company was founded in 1962 and is headquartered in Menomonee Falls, WI.
Market Cap
$3.07B
View Company Details
KOHLS Corp by TradingView
Relevant filing section
Item 5.02 
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers 


On February 2, 2023, the Board of Directors (the "Board") of the Company appointed Thomas Kingsbury as Chief Executive Officer ("CEO") of the Company, effective as of February 2, 2023. Mr. Kingsbury has served as Interim Chief Executive Officer since December 2, 2022. Mr. Kingsbury has served as a director of the Company since 2021 and will continue to serve on the Board. 

Mr. Kingsbury, age 70, previously served as President and Chief Executive Officer of Burlington Stores, Inc. from 2008 to 2019, and as Chair of the board of Burlington Stores, Inc. from 2014 to 2020. Prior to that, he served as Senior Executive Vice President - Information Services, E-Commerce, Marketing and Business Development - with Kohl's, Inc. from 2006 to 2008. Prior to joining Kohl's, Inc., Mr. Kingsbury held various management positions with The May Department Stores Company, an operator of department store chains, commencing in 1976 and as President and Chief Executive Officer of the Filene's division from 2000 to 2006. As of the date hereof, Mr. Kingsbury serves as a director on the board of directors of the Company, Tractor Supply Company, BJ's Wholesale Club Holdings, Inc., and Big Lots, Inc. 

In connection with the foregoing, the Company entered into the Cooperation Agreement by and among the Company and the Macellum Group. 

From the period commencing on the date of the Cooperation Agreement and ending on the 18-month anniversary of the date Mr. Kingsbury is no longer CEO of the Company (the "Standstill Period"), the Cooperation Agreement provides that the Macellum Group will be subject to customary standstill obligations. 

The Cooperation Agreement also provides that during the Standstill Period the Macellum Group, which holds over 4% of the outstanding Company common stock, will vote all shares beneficially owned by the Macellum Group in favor of each of the directors nominated by the Board and, subject to limited exceptions, consistent with the recommendation of the Board on all other matters at each annual and special meeting of the Company's shareholders. 

During the Standstill Period, the Company and the Macellum Group are subject to customary mutual non-disparagement obligations pursuant to the Cooperation Agreement. 

The foregoing description of the Cooperation Agreement is qualified in its entirety by reference to the full text thereof, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.