Kohl’s considers replacing headhunter that found the CEO it fired
Kohl’s Corp. thinks.
Most major research companies provide a guarantee for a second search if the initial position has reached the strong during the first year. Kohl’s is not sure that she wants to return to its original recruiter, Heidrick & Strowes International Inc. And I contacted at least one company, according to people familiar with the issue who were not allowed to speak publicly.
The besieged retail company formed a special committee to choose its next leader after Ashley Bokanan launched several months during his work. Bokanan was accused by the company’s council to direct millions of dollars from business to a person with a personal relationship with him. Bloomberg News stated that this person was Chandra Holt, in which he participated in a romantic way.
Heidrick representatives did not respond to multiple requests for comment. Kohl refused to comment on this article, but he previously said that the board of directors conducted a “comprehensive and usual examination” with a detailed investigative company and detailed reference checks.
Blue Heron Research Partners, who analyzes the effectiveness of management teams on behalf of the investors, found that there are concerns about the morals, integrity and rule of work. The company conducted interviews with the former Bokanan colleagues before getting the higher job at Colles.
“Yellow and red flags”
“There were yellow and red flags about Bokanan as an executive president that exceeded this specified conflict of interests,” said David Renke, founder of Blue Heron and CEO. “I am surprised that the painting did not know about this.”
Bokanan did not respond to a request for comment.
Since his termination, new details have appeared about the former Bokanan roles, including when he was an executive at Walmart Inc. Some of the employees who worked with him at the time were interrogated about the personal relationships that might have been in the company.
Michael Bandar, who held the position of Cole Chairman, is now working as a temporary executive chairman. Bandar played previous executive roles in Walmart, where Buchanan and Holt have worked. Bandar did not respond to a request for comment.
Kohl’s is trying to find its foot as an increasing competition, and the tense consumer has led to a decrease in sales for three years. The company has had many executives since Michelle Gas left the company at the end of 2022. Its shares decreased about 40 % this year so far.
This story was originally shown on Fortune.com
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2025-05-20 19:26:00
