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© Reuters. FILE PHOTO: The signal outdoors a Kohl’s retailer is seen in Broomfield, Colorado February 27, 2014. REUTERS/Rick Wilking
(Reuters) – Kohl’s Corp (NYSE:) stated on Wednesday two of its senior executives are stepping down from their roles, because the U.S. division retailer chain hunts for a purchaser amid stress from activist buyers to promote itself.
Shares of the corporate fell 3.6% to $41.4 in prolonged buying and selling.
Kohl’s stated that Chief Advertising and marketing Officer Greg Revelle could be departing from the corporate in June, whereas Chief Merchandising Officer Doug Howe would depart efficient instantly.
The U.S. division retailer chain stated in an emailed assertion that Revelle and Howe are leaving the corporate to pursue different alternatives and {that a} seek for their replacements is already underway.
Over the previous few months, activist buyers Macellum Advisors GP LLC and Engine Capital LP have referred to as on Kohl’s to promote itself.
Final week, the corporate’s buyers rejected Macellum Advisors’ efforts to exchange 10 of its board administrators.
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