Kohl’s close to naming Tom Kingsbury as permanent CEO – NYT

FILE PHOTO: A Kohl’s department store in New York

(Reuters) – Department store chain Kohl’s Corp is in late-stage talks to name Tom Kingsbury as its permanent chief executive, the New York Times reported on Wednesday, citing two people familiar with the situation.

Kingsbury was named interim CEO in December, after Michelle Gass left Kohl’s to become the top boss at Levi Strauss & Co. 

The appointment will come as the department store chain is struggling with declining sales and greater pressure from activist investors.

In November, Kohl’s withdrew its 2022 sales and profit forecasts, blaming an uncertain economic outlook and the departure of Gass.

The company does not comment on “rumors or speculation”, a spokesperson told Reuters.

(Reporting by Mrinalika Roy in Bengaluru; Editing by Sriraj Kalluvila)