DOW JONES NEWSWIRES
Kohl's Corp. (KSS) President and Chief Executive Kevin Mansell
will add the role of chairman to his responsibilities, succeeding
Larry Montgomery, who is retiring after 21 years at the
retailer.
Montgomery relinquished the CEO title to Mansell a year ago. He
plans to step down as chairman effective Sept. 1 and will remain on
the board until Jan. 30.
Like all retailers, Kohl's has contended with a major drawdown
in consumer spending in the year since Mansell became CEO. But the
retailer has continued plans for expansion, aiming to open at least
20 to 25 stores next year and grow its base of credit-card
customers.
Mansell has been with Kohl's for 27 years, including 14 as the
retailer's general merchandise manager.
Earlier this month, Kohl's posted a slight drop in fiscal
second-quarter earnings amid a modest revenue increase. It has been
posting stronger results than some fell department-store peers.
Kohl's shares closed at $52.99 on Tuesday and weren't active
premarket.
-By Joan E. Solsman, Dow Jones Newswires; 212-416-2291;
joan.solsman@dowjones.com