Connect with us

Hi, what are you looking for?


Activist investor pushes for ‘new leadership’ at Kohl’s

Kohl’s Corporation (NYSE: KSS) is in focus this morning after an activist investor said the chain of department stores was in need of new leadership to revamp its business.

Activist wants Kohl’s to oust its CEO and Chairman

Ancora Holdings, on Thursday, pushed the retailer to remove Michelle Gass as its Chief Executive. It wants Peter Boneparth (Chairman) out as well.

We contend that Kohl’s needs new leadership with demonstrated experience in cost containment, margin expansion, product catalogue optimization, and, most importantly, turnarounds.

Ancora has a 2.5% stake in the New York listed firm that has been cut in half this year.

Gass has been the CEO at Kohl’s since 2018 and Boneparth was named the Chairman only this year (after nearly 15 years as a director). The Wisconsin-headquartered company is yet to respond to Ancora.

Management has significantly destroyed equity value

Earlier in 2022, Sycamore Partners (Private Equity Company) said it was willing to pay $65 a share for Kohl’s. The retail chain, however, rejected the offer citing “undervaluation”, which, as per Ancora Holdings, resulted in a billions of dollars worth of hit to equity value.  

In its letter to Kohl’s Corporation, the activist investor appreciated the partnership with Sephora under CEO Gass but said:

During the Boneparth era, the Board has created an environment in which Ms. Gass is no longer well-positioned to lead.

The retail news arrives a couple weeks after we reported Oak Street Real Estate Capital LLC to be interested in buying up to $2.0 billion worth of Kohl’s property and lease it back to the retailer.

Wall Street has a consensus “hold” rating on the stock.

The post Activist investor pushes for ‘new leadership’ at Kohl’s appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like


    Solana (SOL/USD) is enormously underrated as a cryptocurrency project, even with its hiccups – including the latest exploit on one of the ecosystem apps....

    Editor's Pick

    The new eSIM infrastructure will help modernise the IoT connectivity market with fast, secure connections and reduced vendor lock-in. 1oT, a tech startup from...


    The latest Job Openings and Labor Turnover Survey from the Bureau of Labor Statistics shows the total number of job openings in the economy...


    U.S. District Court Judge Reed O’Connor recently ruled to uphold the rights of employers granted in the Religious Freedom Restoration Act, rather than uphold...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023