Kohl's Corp. names 3 new directors in deal with activist investors
By Anne D'Innocenzio
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MENOMONEE FALLS, Wis. - Kohl’s Corp. says it's adding three independent members to its board of directors as part of an agreement it struck with a key activist investor group that has been fighting to exert more control.
The new independent directors nominated by the investor group are Margaret Jenkins, a former marketing executive at restaurant chain Denny's, and Thomas Kingsbury, former CEO of Burlington Stores, the company said Wednesday. They will join Kohl’s board as of the close of this year's annual shareholders' meeting, to be held in May. An additional independent director identified by Kohl’s, and agreed to by the investor group, will join the board at the same time: Christine Day, former CEO of Lululemon.