Kohl's CEO Steps Down
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Michaels CEO Ashley BuchananCNBC
•Kohl's CEO Tom Kingsbury to step down in January, to be replaced by Michaels CEO Ashley Buchanan
72% Informative
Kohl 's CEO Tom Kingsbury is stepping down on Jan. 15 , to be replaced by current Michaels CEO Ashley Buchanan .
Buchanan previously spent time at Walmart and its Sam's Club division.
The department store has been struggling to return to growth as consumers increasingly move away from department stores.
Shares fell about 3% in extended trading following the announcement.
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