Kohl’s Picks Veteran Retail Chief Michael Bender as Permanent CEO Amid Turbulent Turnaround
Kohl’s has officially named Michael J. Bender its new CEO, elevating him from interim to permanent leader after a difficult year of declining sales and leadership instability. This marks a pivotal moment for the department-store chain as it works to steady itself under seasoned leadership.
Bender, who has over 30 years of experience in retail and consumer goods, takes the reins at one of the most challenging times in Kohl’s recent history. The company has struggled to regain its footing against online rivals and big-box competitors while facing internal governance issues, including the abrupt removal of its previous CEO earlier this year.
From Interim to Permanent: Why the Board Bet Big on Bender
Bender first stepped in as interim CEO in May, after Kohl’s ousted Ashley Buchanan following a board-led investigation that uncovered undisclosed conflicts of interest involving vendor deals. In his interim role, he earned praise from Kohl’s leadership for “progressively improving results, driving short- and long-term strategy, and positively impacting cultural change.”
His appointment as the full-time CEO came after a thorough external search by the board, and the decision was unanimous. Board Chair John Schlifske said that Bender’s depth of experience and commitment to Kohl’s brand made him the right choice to lead both its turnaround and future growth.
Bender, who remains on Kohl’s board (where he has served since 2019), has also led several major retail and consumer operations. His previous roles include CEO of Eyemart Express, senior leadership at Walmart, L Brands, and PepsiCo.
A Retail Revival Under Fire: Sales Decline and Turnover
Kohl’s arrives at this leadership change with significant headwinds. In its most recent earnings report, the company confirmed ongoing pressure from shrinking sales, with comparable sales expected to decline again.
The retailer has seen high turnover in its leadership role — this is its fourth CEO in four years — which has shaken investor confidence and raised serious questions about its strategic direction.
Analysts say Bender’s mission is clear: restore stability, drive operational efficiency, and rebuild a retail strategy that appeals to both digital and in-store customers. But they also warn that the turnaround will not be instant. As one report put it, reviving Kohl’s “will take some time.” Fortune
Why This Leadership Change Matters for the Business and Investors
This isn’t just a corporate reshuffle — it’s an existential moment for Kohl’s brand and financial viability. The elevated board confidence in Bender reflects his perceived ability to marry retail savvy with culture change and fiscal discipline.
From a business standpoint, Bender’s appointment could signal a shift back to fundamentals: improving in-store experience, optimizing inventory, strengthening vendor partnerships, and navigating the complex balance between brick-and-mortar and e-commerce. For investors, the move brings a ray of hope amid persistent volatility — but also underscores how difficult turning around a legacy retailer can be.
Bender’s extensive experience means he understands both the challenges and opportunities: he knows how to run a lean operation, how to generate margin improvements, and how to win back customer loyalty in an age when shoppers demand value, convenience, and purpose.
What This Means for Kohl’s Long-Term Strategy
Under Bender, Kohl’s is unlikely to chase quick fixes. Strategic priorities are likely to include:
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Rebuilding trust with investors through consistent results
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Prioritising customer-first initiatives to drive foot traffic
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Investing in inventory management and supply chain efficiency
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Leveraging partnerships and private labels to differentiate its offering
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Rebalancing its cost structure to drive profitability without sacrificing experience
This reorientation isn't just operational — it's deeply financial. The board’s faith in Bender also reflects a willingness to commit to a multi-year turnaround that may require upfront investment but, if successful, could restore Kohl’s place in the department store world.
Consumer-Focused Business Insight: Why You Should Care
For regular shoppers, this change could mean mieux: better in-store experience, more reliable product assortment, and potentially renewed investment in store aesthetics and services. But for shareholders, the stakes are much higher.
Kohl’s has floated between opportunity and risk for years. Under Bender, the company may finally begin to translate its physical footprint and retail heritage into a sustainable, modern business model. That combination of retail legacy + financial stewardship could make or break Kohl’s next chapter — and for many investors, Bender’s appointment is a sign that Kohl’s board is serious about fighting to survive and thrive.
What People Are Asking Now
What triggered Kohl’s CEO change this time?
Earlier this year, Kohl’s fired its CEO, Ashley Buchanan, following an internal investigation that found undisclosed conflicts of interest tied to vendor transactions. CNBC The board then promoted Michael Bender, who had already served on the board, to interim CEO and has now made the role permanent.
Can Bender turn around Kohl’s sales decline?
Bender inherits a difficult challenge: years of declining foot traffic, competitive pressure from online rivals, and shrinking comparable store sales. But his 30 years of retail experience at major players like Walmart and PepsiCo position him to reshape the business, focusing on efficiency, inventory, and customer value.
