Michael Bender has been a member of Kohl’s Corp. Board of directors since 2019, chair of the board since 2024, and now is filling in as the top executive for the company.
Kohl’s fired its previous CEO Ashley Buchanan on April 30 after the company discovered “highly unusual” terms for a contract with a potential vendor and a multi-million dollar consulting contract.
According to the Wall Street Journal, both the vendor and consulting contract are related to Chandra Holt, a romantic partner of Buchanan.
The c-suite scandal has thrown Kohl’s into the national spotlight weeks before the company has its annual shareholders meeting, and its first quarter results call with analysts and investors.
Bender is now tasked with guiding the company through a difficult time with sales declining each quarter for more than two years and a stock price that is down more than 50% since the start of the year.
What to know about the new Kohl’s CEO Bender:
Where has he worked before?
According to the Kohl’s website, Bender served as president and CEO of Eyemart Express, LLC which sells glasses and does eye exams. There are three stores in Wisconsin in Madison, Janesville and Appleton. There are more than 250 Eyemart Express stores across the country.
Work at Walmart overlapped with Buchanan
Bender worked at Walmart in various roles including as chief operation officer of global e-commerce from 2014 to 2017. He was also executive vice president and president of the Walmart west business from 2022 to 2014; senior vice president of Walmart mountain division from 2010 to 2011; vice president and general manager of the Walmart southwest region from 2009 to 2010.
His time at Walmart overlapped with Buchanan who worked for the company as chief merchandising and chief operating officer for Walmart U.S. e-commerce business and chief merchant at Sam’s Club.
Bender also worked at Victoria’s Secret and Pepsi
Yes. From 1999 to 2002 he was the vice president of store operations for Victoria’s Secret for L Brands. He was also an international specialty retailer from 1984 to 1999 for PepsiCo serving in a variety of roles from sales, finance and operational roles.
Could Bender become the full-time CEO?
It’s unclear if Kohl’s is planning to make Bender the next CEO but he could slide into that role. It wouldn’t be the first time Kohl’s hired a CEO who came from the board of directors.
In November 2022, when former CEO Michelle Gass stepped down from her role to join Levi Strauss Co., board member Tom Kingsbury was appointed interim-CEO the following month.
In February 2023, Kingsbury became full-time CEO before stepping down in mid-January 2025 so Buchanan could take over.
Even if in an “interim” role, Bender is Kohl’s first Black CEO.
“Working with our talented leadership team, Board, and thousands of associates, I am committed to continuing the execution of our strategic framework to grow shareholder value,” Bender said in a statement.
“Kohl’s has a strong foundation of more than 1,100 conveniently located stores nationwide, serving over 60 million customers. We will continue to build on this foundation as we enhance the value we deliver to our customers and set the stage for meaningful operational and financial progress.”
Is Bender being paid by Kohl’s?
As chair of the board he paid $200,000 and an annual cash retainer of $125,000 paid quarterly.
He also has some Kohl’s stock which is often included by corporations to pay board members and other executives.
What have other board members said about the situation?
The board has been pretty quiet when it comes to Buchanan’s firing. However former Northwestern Mutual CEO, and board member John Schlifske, said Bender has the full confidence of the board.
“Michael brings over three decades of leadership experience across retail and consumer goods companies, having served as CEO of Eyemart Express and in senior roles at Walmart, L Brands and PepsiCo,” Schlifske said in a statement. “We look forward to continuing to work closely with Michael as Kohl’s remains focused on operational excellence, simplification, and efficiency to improve long-term financial health and profitability.”
Schlifske is chair of the nominating and ESG (environmental, social and governance) committee for Kohl’s.
This article originally appeared on Milwaukee Journal Sentinel: What to know about Kohl’s interim CEO Michael Bender. He succeeds fired CEO Buchanan
Reporting by Ricardo Torres, Milwaukee Journal Sentinel / Milwaukee Journal Sentinel
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