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US omnichannel retailer Kohl s and Investor Group reach agreement

Fibre2Fashion Toggle navigation 21 Pic: Sundry Photography / Shutterstock.com Kohl’s Corporation, a leading omnichannel retailer in the US, has entered into a settlement agreement with Macellum Advisors GP, LLC, Ancora Holdings, Inc., Legion Partners Asset Management, LLC, and 4010 Capital, LLC (collectively, the Investor Group), which together own 9.3 per cent of Kohl’s outstanding common stock, including options. As part of the agreement, two new independent directors nominated by the Investor Group, Margaret Jenkins and Thomas Kingsbury, will join the Kohl’s board of directors, as of the close of the 2021 Annual Meeting of Shareholders. An additional independent director identified by Kohl s, and agreed to by the Investor Group, Christine Day, will join the board at the same time.

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Kohl s adds three independent directors, expands share repurchase program, ending dispute with activist investors

Kohl s adds three independent directors, expands share repurchase program, ending dispute with activist investors
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Kohl s settles with activist group, adds three new directors

By Reuters Staff 2 Min Read FILE PHOTO: The logo and trading informations for Kohl s is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., January 13, 2020. REUTERS/Brendan McDermid (Reuters) -Department-store chain Kohl’s Corp said on Wednesday it has reached a deal with a group of activist investors to avoid a proxy fight, agreeing to add two of the group’s nominees to its board as independent directors. The company will also add an independent director to the board at the same time and said that it expanded its share buyback plan to $2 billion.

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Kohl s Corp names 3 new directors in deal with activist investors

Kohl s Corp. names 3 new directors in deal with activist investors By Anne D Innocenzio article 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.

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Kohl s And Activist Investors Reach Agreement, Add New Directors

Kohl s And Activist Investors Reach Agreement, Add New Directors
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