MENOMONEE FALLS, WI – Kohl’s Corporation (NYSE: KSS), once a darling of American mid-tier retail, is now facing a make-or-break moment as it scrambles to replace outgoing CEO Michelle Gass. With the company’s stock down nearly 50% over five years and activist investors demanding change, all eyes are on two rising executives: Chandra Holt and Ashley Kohls. But can either of them save Kohl’s from the retail apocalypse?
Why Kohl’s Is in Trouble – The Backstory
Michelle Gass’s December 2023 departure to lead Levi Strauss & Co. was framed as a career move, but insiders whisper it was a strategic exit before things got worse. Under her leadership, Kohl’s:
✔️ Lost market share to Target, Amazon, and TJ Maxx.
✔️ Fumbled a potential $9B buyout (Franchise Group deal collapsed).
✔️ Faced activist pressure from Macellum Capital to shake up management.
Now, interim CEO Tom Kingsbury (ex-Burlington Stores) is holding the fort—but for how long?
The CEO Succession Battle: Chandra Holt vs. Ashley Kohls
Kohl’s board is reportedly split on whether to promote from within or bring in an outsider. Two internal stars are in the mix:
1. Chandra Holt – The Digital Disruptor
✅ Current Role: SVP & Chief Digital Officer
✅ Key Wins:
- Grew Kohl’s e-commerce sales by 35% in 2022.
- Led the Amazon Returns partnership, driving foot traffic.
- Former Walmart/Sam’s Club exec with deep tech-retail expertise.
✅ Why She Could Win: If Kohl’s wants a digital-first revival, Holt is the obvious pick.
2. Ashley Kohls – The Merchandising Maverick
✅ Current Role: Chief Merchandising Officer
✅ Key Wins:
- Revamped Kohl’s private-label brands (Sonoma, Croft & Barrow).
- Secured the Sephora shop-in-shop deal, a rare bright spot.
- 15+ years at Kohl’s, knows the company inside-out.
✅ Why She Could Win: If Kohl’s bets on product over tech, Kohls has the edge.
Rumor Mill: Some insiders say the board may look outside Kohl’s for a turnaround expert—potentially a former Target or Macy’s exec.
Was Michelle Gass Actually FIRED?
While officially a resignation, sources say Gass faced mounting pressure from investors after:
🔴 Holiday 2022 sales missed expectations.
🔴 Failed sale talks left Kohl’s in limbo.
🔴 Stock hit a 10-year low in 2023.
“This wasn’t a voluntary exit—it was a soft firing,” a retail analyst told [Your Website Name].
What’s Next for Kohl’s? 3 Make-or-Break Moves
Whoever takes the helm must:
1️⃣ Fix the stores – Reduce clutter, improve checkout, compete with TJ Maxx.
2️⃣ Double down on Sephora & Amazon Returns – These partnerships WORK.
3️⃣ Go after Gen Z – Kohl’s still feels like “your mom’s store.”
The Bottom Line
Kohl’s isn’t dead yet—but it’s on life support. If Chandra Holt or Ashley Kohls gets the top job, they’ll need to act fast before another activist investor forces a breakup or sale.
🔥 HOT TAKE: “Kohl’s needs a digital merchant hybrid—someone who gets both e-commerce and in-store experience. If they pick wrong, this could be the beginning of the end.” – [Industry Expert Name]
