The Kohl’s logo is displayed on the exterior of a Kohl’s store on January 24, 2022 in San Rafael, California.
Justin Sullivan | Getty Images
Kohl’s on Thursday named interim CEO Tom Kingsbury to the post on a permanent basis.
He took over as interim CEO in December after former chief executive Michelle Gass decided to leave for Levi Strauss. Kingsbury’s appointment had been expected.
The company also said activist investor Macellum Advisors agreed to back off its pressure campaign.
“The Board appreciates our constructive dialogue with Macellum during the last few months and their engagement as we conducted the CEO search process. We look forward to their continued support and partnership,” said Michael Bender, a board director at Kohl’s.
In October, Macellum had been pushing for board seats at the struggling retailer.
Shares of Kohl’s were little changed in after-hours trading on Thursday.
Read the full release from Kohl’s.
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(With inputs from CNBC)