Kohl's new CEO fired after making 'highly unusual' business deals with his romantic partner

https://www.independent.co.uk/news/world/americas/kohls-ceo-fired-ashley-buchanan-b2743227.html

Kohl’s CEO fired after making ‘highly unusual’ business deals with his romantic partner, report says
CEO Ashley Buchanan took on the role in mid-January


Kohl’s has fired CEO Ashley Buchanan after an investigation found he told the company to enter two business deals involving a romantic partner, according to a report.

Buchanan, who took on the position in January, was fired Wednesday after an investigation found he directed Kohl’s to enter a “highly unusual” business deal with a company whose founder he had personal ties to, SEC filings indicate. The terms of that business deal were “favorable” to the vendor, the filings state.


He also entered Kohl’s into a “multi-million dollar” consulting agreement with a team that the individual was part of, the filings indicate. He then failed to disclose that personal relationship to Kohl’s, violating the company’s code of ethics.

The filing did not identify the founder and consultant. But, The Wall Street Journal reports her name is Chandra Holt and the two had a romantic relationship.


Buchanan and Holt met while they were both working at Walmart, according to the Journal.