Ashley Buchanan, the former CEO of Kohl’s, was terminated due to a conflict of interest involving a personal relationship. The relationship, which spanned roughly 10 years, reportedly blurred professional boundaries during his tenure at Walmart and Michaels. On May 1, Kohl’s board decided to fire Buchanan after discovering he had directed millions in business to Chandra Holt, with whom he had a romantic relationship, without disclosing it. This action violated the company’s ethics policy and caused significant disruption within the retail industry.
— new from Bloomberg
