Kingsbury will remain with Kohl’s in an advisory role to Buchanan and stay on the board until he retires in May.

Tom Kingsbury will step down as top boss of Kohl’s Corporation (NYSE:KSS) effective January 15, 2025, the company said in a statement Monday. He will be replaced by Ashley Buchanan as CEO. Buchanan has been the chief executive of Michaels Companies since 2020 and,

Buchanan joins Kohl's from Michaels Companies, where he is credited with improving profitability and the cash flow.