Ashley Buchanan, the former CEO of Kohl’s, was terminated due to an undisclosed personal relationship that influenced business decisions. The relationship with Chandra Holt, which spanned approximately a decade, allegedly led Buchanan to direct millions of dollars in business to Holt without proper disclosure. This action violated the company’s ethics policy. The situation, considered an open secret among colleagues during Buchanan’s time at Walmart and Michaels, culminated in his dismissal by Kohl’s board on May 1. The scandal has significantly impacted the retailer and drawn attention across the industry.
— new from Bloomberg.com
