Kohl s Corp. has reached an agreement with the group of investors that have been trying to elect its own members to the retailer s board of directors.
Kohl s announced in a news release Wednesday morning that it has entered into a settlement agreement with the group of investors who collectively own around 9.5% of the company s stock.
Two of the directors nominated by the investor group will join the company s board of directors as part of the agreement. Margaret Jenkins from Citi Trends INc. and Thomas Kingsbury from Big Lots and Burlington Stores, Inc. will join the board at the end of the 2021 annual meeting of shareholders.