Kohl's CEO Ashley Buchanan Fired After Just 100 Days Over Ethics Scandal

Ashley Buchanan, the recently appointed CEO of Kohl's, is making headlines for all the wrong reasons. Just over three months into his tenure, Buchanan has been abruptly terminated for cause, sparking widespread media and public attention. The stunning decision comes as a result of an internal investigation that uncovered serious ethical breaches involving vendor relationships.

A Short-Lived Tenure Ends in Scandal

Buchanan stepped into the role of Kohl's CEO on January 15, 2025, succeeding Tom Kingsbury. The move was highly anticipated, as Buchanan brought with him retail leadership experience from his time at Michaels. His new role was accompanied by a generous $20 million compensation package, signaling the company's confidence in his leadership during a critical turnaround period.

However, that optimism did not last. By May 1, 2025, Kohl's announced it had terminated Buchanan effective immediately following disturbing revelations from an internal probe. The news broke with a jolt to investors, employees, and the retail industry at large.

Internal Probe Reveals Conflict of Interest

According to Kohl's SEC filing, Buchanan engaged in vendor transactions that represented serious ethics violations. Specifically, he:

• Directed business to a vendor under "highly unusual terms" that disproportionately benefited the vendor
• Entered into a consulting agreement with a person he had a personal relationship with, without disclosing the connection

"Buchanan directed business with a vendor under 'highly unusual terms' favorable to the vendor and entered a consulting agreement involving the same individual without disclosure."

This combination of misdeeds proved to be too grave for Kohl's board to overlook. The company acted swiftly, likely to protect their credibility ahead of their upcoming May 29 earnings report.

Corporate Ethics Under the Microscope

Buchanan’s termination is particularly striking because of both its speed and severity. To be dismissed for cause so soon after onboarding—just 100 days—raises questions beyond individual misconduct. It shines a harsh spotlight on executive vetting processes, oversight, and corporate governance at the board level.

Executives are expected to model corporate ethics, not exploit their position for personal gain. That Buchanan forfeited significant portions of his equity and signing bonus reinforces the board's stance on accountability.

This scandal underscores how quickly trust in leadership can crumble—and how damaging such breaches can be to a company’s reputation.

Reactions and Broader Implications

The public and business community have responded with a mix of shock, disappointment, and speculation. Many are appalled by the $20 million package awarded for a tenure clouded by misconduct. Others are worried about what this leadership instability could mean for Kohl's long-term performance, especially as retail struggles to navigate shifting consumer habits.

In an environment where corporate missteps can reverberate quickly across markets and social media, such an exit is not just a black eye—it's a cautionary tale.

For more, refer to the original reporting from Fortune and AP News.

Conclusion

✔️ Buchanan’s downfall is a striking example of corporate ethics gone awry
✔️ Missed disclosures and conflicts of interest serve as reminders that no executive is above scrutiny