CEO of Kohl, Ashley BochannanOn Thursday, the retailer found out that he had entered business contracts with someone who had a “personal relationship” with someone.
Only four months later on the job was let’s go to Bouchenan – he had just had Began in January. Earlier, he was the CEO of the craft store, Michael.
Following the investigation, Kohl’s board says Bouchen agreed to the company to persuade a multi -million dollar consulting agreement with a person. Wall Street Journal Reports He was romantically involved. One in SEC Filing“It has found that Mr. Bochanan had instructed that the company should do business with a shopkeeper set up by a person with whom Mr. Bochanan has a personal relationship on the most unusual terms of the shopkeeper,” the company said.
It continues, “caused the company to enter a multi -million dollar consulting deal”, which continues.
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“External lawyer and monitoring by the Board’s Audit Committee determined that Mr. Bouchinan violated the company’s policies, which directed the company to engage in vendor transactions, including unknown disputes of interests,” Kohl said.
WSJ Report the name of former Bed Bath and CEO Chandra Holt, who is now the founder of Coffee Company Incident Babyu, as another person in the deal.
Holt denies WSJ’s claims.
“I have known Ashley Bochanan for 10 years, but I have not received any compensation for my enriched business from Kohl.” Told Outlet.
Kohl has shut down 27 low -performing stores From JanuaryPer axis company still has more than 1,120 stores.
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Kohl’s board immediately called the board’s current director Michael Binder as interim CEO.