Activist Investor Ancora Seeks Exit of Kohl’s (NYSE:KSS) CEO, Chairman Amid Weak Sales
Activist investor Ancora Holdings is once again putting pressure on Kohl''s (NYSE:KSS) board, this time pushing for the removal of the company’s CEO Michelle Gass and Chairman Peter Boneparth. In a letter addressed to Kohl’s board of directors, Ancora, which has about 2.5% stake in the company, urged for the appointment of new leadership with “demonstrated experience in cost containment, margin expansion, product catalog optimization and, most importantly, turnarounds.” The move comes after Kohl’s terminated the plan to sell its business to the Franchise Group (FRG), the owner of The Vitamin Shoppe.
Activist Investor Ancora Seeks Exit of Kohl’s (NYSE:KSS) CEO, Chairman Amid Weak Sales
Activist investor Ancora Holdings is once again putting pressure on Kohl''s (NYSE:KSS) board, this time pushing for the removal of the company’s CEO Michelle Gass and Chairman Peter Boneparth. In a letter addressed to Kohl’s board of directors, Ancora, which has about 2.5% stake in the company, urged for the appointment of new leadership with “demonstrated experience in cost containment, margin expansion, product catalog optimization and, most importantly, turnarounds.” The move comes after Kohl’s terminated the plan to sell its business to the Franchise Group (FRG), the owner of The Vitamin Shoppe.