{"id":107610,"date":"2021-02-22T02:07:15","date_gmt":"2021-02-22T02:07:15","guid":{"rendered":"https:\/\/fin2me.com\/?p=107610"},"modified":"2021-02-22T02:07:15","modified_gmt":"2021-02-22T02:07:15","slug":"activist-investors-nominate-nine-directors-to-kohls-board-wsj","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/activist-investors-nominate-nine-directors-to-kohls-board-wsj\/","title":{"rendered":"Activist investors nominate nine directors to Kohl's board: WSJ"},"content":{"rendered":"
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<\/figcaption>

(Reuters) – A group of activist investors with about 9.5% stake in Kohl\u2019s Corp is attempting to take control of the department store chain\u2019s board, The Wall Street Journal reported on Sunday.<\/p>\n

Investors including Macellum Advisors GP LLC, Ancora Holdings Inc, Legion Partners Asset Management LLC, and 4010 Capital LLC had earlier this year nominated nine people to its now-12-person board, the newspaper said, citing people familiar with the matter.<\/p>\n

These activist investors are calling on Kohl\u2019s to take a range of actions, including adding directors with retail experience who can work with Michelle Gass, the company\u2019s CEO. They are also asking Kohl\u2019s to consider a sale-leaseback of some of its more than $7 billion in noncore real estate, the Journal said, citing people familiar with the matter and a letter viewed by the outlet, which the group plans to send to shareholders.<\/p>\n

Neither the size of the investors\u2019 stake nor the board bid was previously known, WSJ said.<\/p>\n

The group also is calling on Kohl\u2019s to reduce inventory levels while improving offerings and make discounts and promotions easier for customers to follow, the newspaper added.<\/p>\n

A Kohl\u2019s representative told Reuters that the company\u2019s board and management team have been engaged in discussions with the investor group since early December and \u201cremain open to hearing new ideas.\u201d<\/p>\n

The investor group\u2019s nominees to Kohl\u2019s board include Macellum Chief Jonathan Duskin and former Burlington Stores Inc CEO Thomas Kingsbury, according to WSJ.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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