Kohl's opposes activist investors' attempt to overhaul board
Menomonee Falls-based shake up the retailer’s board of directors in an effort to improve performance. The group Monday morning released a 27-page open letter, which nominates nine replacement candidates for Kohl’s 12-person board and includes plan to grow sales, cut expenses, adjust executive compensation and proposes a large-scale sale-leaseback program for the company’s real estate assets. Kohl’s issued a response hours later: “We reject the investor group’s attempt to seize control of our board and disrupt our momentum, especially considering that we are well underway in impl...
Source: biztimes.com