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Kohl’s Faces Activist Group Seeking Control of Board
Bloomberg 2/22/2021 Scott Deveau © Bloomberg Shoppers wearing protective masks walk outside a Kohl s Corp. department store in Jersey City, New Jersey, U.S., on Friday, Aug. 14, 2020. Kohl s is scheduled to release earnings figures on August 18.
(Bloomberg) Kohl’s Corp. said it rejects attempts by a group of activists “to seize control of our board and disrupt our momentum,” pushing back against a group that seeks to name nine directors and overhaul the retailers’ inventory. The shares pared some of their earlier gains.
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“We are well underway in implementing a strong growth strategy and accelerating our performance,” the company said in a statement on its website, adding that its plans already include several of the initiatives the activist investors are proposing. Other plans, it said, “would not be accretive to shareholder value.” The company pointed to sequentia