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Kohl's expands board of directors after annual meeting


Kohl s expands board of directors after annual meeting
Kohl s Corp. is moving forward with an expanded board of directors in response to a public campaign by a group of investors earlier this year. 
Kohl s shareholders elected the company s 12 nominees to the board of directors during the Menomonee Falls-based retailer s virtual annual meeting of shareholders on Wednesday. 
The candidates received an average vote of more than 96% of votes cast. 
Kohl s announced in mid-April that the company had reached an agreement with a group of investors that had launched a campaign seeking to gain control of the board of directors. 
As part of that agreement, Kohl s expanded its board of directors from 12 members to 15. Kohl s CEO Michelle Gass holds one seat; the rest are independent from the company. Two of the three new directors were nominated by the investor group.  ....

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US omnichannel retailer Kohl's and Investor Group reach agreement


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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 has reached an agreement with the activist investors


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.  ....

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