India, May 1 -- Department store chain Kohl's Corp. (KSS) announced Thursday that the Board of Directors has decided to terminate Chief Executive Officer Ashley Buchanan for cause after an investigation conducted by outside counsel and overseen by the Audit Committee of the Board determined Buchanan violated company policies.
Buchanan was found to have directed the Company to engage in vendor transactions that involved undisclosed conflicts of interest, which the Board determined to be cause.Buchanan's termination is unrelated to the Company's performance, financial reporting, results of operations and did not involve any other Company personnel.
In accordance with the terms of this employment contract, Buchanan is no longer a member of t...