Dive Brief:
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The Kohl’s board is pressuring CEO Kevin Mansell, who has been with the company for 30 years and CEO since 2008, to make significant management changes to help the retailer out if its sluggish growth.
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The retailer’s chief merchandising officer, Donald Brennan, left in April after 13 years at the company, and Mansell is actively seeking his replacement.
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Merchandising has been an issue at the retailer, which increased its number of higher-margin private brands to 50% of its offerings from 28% eight years ago. Mansell has said the company must "rebalance" that, planning to bring on national brands Izod and Juicy Couture.
Dive Insight:
This proposed management shakeup at Kohl’s adds the retailer to a long list of retail companies looking for executives that can help boost performance in a tough market. Target, J.C. Penney, and American Eagle Outfitters are looking for candidates for CEO, and Abercrombie & Fitch is looking for two executives, one of whom would eventually take over as CEO.