In a major shake-up at one of America’s biggest retail chains, CEO Ashley Buchanan was fired from Kohl’s after less than five months in the top role. The dismissal came following an investigation that revealed serious violations of the company’s ethics policies.
At the heart of the controversy is Buchanan’s failure to disclose a past romantic relationship with a vendor, Chandra Holt, who was later awarded a multimillion-dollar deal with Kohl’s under highly favorable terms.
CEO Ashley Buchanan Was Fired From Kohl’s
According to reports, the company’s board launched an external investigation after learning that Buchanan played a direct role in bringing in a vendor for consulting services—a vendor team that included Holt, a former executive at Walmart and Buchanan’s past romantic partner.
The company’s code of ethics requires all executives to disclose any personal relationships that might create a conflict of interest. But Buchanan reportedly never informed the board or compliance team about his connection to Holt, raising serious concerns about transparency and fairness in vendor selection.
The investigation revealed that the deal given to Holt’s vendor group was unusually generous and not in line with Kohl’s typical agreements, adding weight to the accusations against Buchanan.
CEO Ashley Buchanan Fired: What It Means
CEO Ashley Buchanan was fired “for cause,” effective April 30, 2025. This means the decision was based on a serious violation of company policy and not related to the company’s financial performance. As a result of his termination, Buchanan will lose all equity awards received during his brief tenure and must repay a portion of his $2.5 million signing bonus.
The company has clarified that no other employees were involved in the violation, and the issue is solely tied to Buchanan’s actions. The board emphasized that this decision was made to uphold Kohl’s commitment to ethics and integrity.
Leadership Transition at Kohl’s
With Buchanan’s sudden exit, Kohl’s has appointed board chairman Michael Bender as interim CEO while the search begins for a permanent replacement. The leadership transition comes at a critical time for the company, which has been navigating increasing competition and ongoing challenges in the retail space.
Buchanan had only joined Kohl’s in January 2025 after serving as CEO of Michaels and holding leadership roles at Walmart. His abrupt firing adds to the turmoil the brand has faced in recent years.
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Who Is Chandra Holt?
The vendor involved in the case is Chandra Holt, a well-known name in the retail world who previously worked alongside Buchanan at Walmart. While no formal charges or allegations have been made against Holt, the connection between the two and the lack of disclosure from Buchanan raised enough red flags to prompt action from the board.
Conclusion
The news that CEO Ashley Buchanan was fired has sent shockwaves through the retail industry. The situation highlights how even top executives are not above company ethics rules and that accountability remains essential—especially at the highest levels of leadership.
Kohl’s has taken a strong stance, reaffirming its values and sending a clear message: conflicts of interest and undisclosed relationships won’t be tolerated, no matter who is involved.