Kohl’s has appointed former Walmart executive Ashley Buchanan as chief executive as the department store aims to lure back its value-seeking customer base amid falling sales.

Mr. Buchanan will be the third chief executive at Kohl’s since 2018. Tom Kingsbury has served as interim chief executive since Michelle Gass left in December 2022 to run Levi Strauss & Company. Mr. Kingsbury will retain his seat on the board of directors until he retires in May.

Michael Bender, chair of the Kohl's board, said in a statement Buchanan's "vast retail experience leading operations, merchandising, and e-commerce at Walmart and his past five years as CEO of Michaels will bring a steady, proven, innovative leader to Kohl's as we continue to transform the business and drive future growth."

Kohl's is getting a new CEO, its third since 2018. The off-mall department store's current CEO Tom Kingsbury is stepping down effective Jan. 15. He will leave the position he held first on an interim basis starting in late 2022,

Kohl’s has named Ashley Buchanan, CEO of Michaels, as its new CEO, effective Jan. 15, 2025, when current Kohl’s CEO Tom Kingsbury will step down.

Kohl’s announced its CEO Tom Kingsbury will step down on January 15, 2025, and will be replaced by the CEO of arts and crafts retailer Michaels.

Kohl's announced that CEO Tom Kingsbury is stepping down in January. He will be replaced by Ashley Buchanan, the current chief executive of arts and crafts retailer Michaels.

Kohl’s Corp. named the chief executive officer of Michaels Cos. to lead the retailer as it looks to recover from a deep sales slump.