Kohl’s Corporation

In Brief

A negotiated settlement was reached in April of 2021 whereby Kohl’s agreed to add 3 independent directors to the board including industry icon Tom Kingsbury, the former CEO of Burlington Stores. Also, as part of the settlement, Kohl’s agreed to expand its repurchase authorization to $2bn of its stock or roughly 25% of the market capitalization at the time. Lastly, the Company formed a new capital allocation committee including our representative.

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