22h ago

Kohl’s CEO fired after making ‘highly unusual’ business deals with his romantic partner, report says

finance.yahoo.com

USA Today reports this too, but skirted the real issue:

https://www.usatoday.com/story/money/business/2025/05/01/kohls-fires-ceo-ashley-buchanan/83386823007/

Buchanan was fired after he violated company policies by directing Kohl's "to engage in vendor transactions that involved undisclosed conflicts of interest,"

10 comments

Why would Kohls hire the ex-CEO of Bed Bath and Beyond to begin with? So he could drive Kohls out of business too?
- In all seriousness, this is viewed as a sign of a risk-taker. Many corporations find themselves stuck and afraid of change, so this can change the direction. It's related to the concept of "move fast and break things".
  I have no idea how often this approach works.
- large shareholders make a shit ton of short term cash when a company goes out of business
  
  Mitt Romney called that "Business Innovation" when he ran and every dumb fuck conservative (these were pre MAGAts) ate that shit up.
  "We needa run this cuntry lika bidnass"
- Bed business is bad for business
- CEOs of large companies don't get hired based on track record. It's all just a name game for them. They rack up company names and it makes them more eligible.
  
  "Bed Bath and Beyond thought I was a good pick. They were wrong, of course, but they thought that. Hopefully you do, too!"
  "You're hired"