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Ancora Issues Statement of Support Regarding Management Transition at Kohl’s

November 08, 2022 at 10:20 AM EST

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

Ancora Holdings Group, LLC (together with its affiliates, “Ancora” or we”), which is the beneficial owner of approximately 2.5% of the outstanding shares of Kohl’s Corporation (NYSE: KSS) (“Kohl’s” or the “Company”), issued the below statement regarding the Company’s announced management transition.

Fredrick D. DiSanto, Chairman and Chief Executive Officer of Ancora, and James Chadwick, President of Ancora Alternatives LLC, commented:

“As outlined in our September 22^nd letter to the Kohl’s Board of Directors, it is the right time for the Company to pivot to a leadership team with enhanced operational expertise and strong turnaround experience. We are very pleased that Kohl’s will be appointing retail sector veteran Tom Kingsbury, who was nominated by our shareholder group in 2021, as its interim Chief Executive Officer. We are also pleased that Tom and our group’s other designee, Margaret Jenkins, will be part of the new committee tasked with identifying the right permanent leader for the business. Ancora has been a long-term shareholder of Kohl’s and believes that under the right leadership, the Company can be a source of tremendous value for investors, customers, suppliers and employees.”

About Ancora

Founded in 2003, Ancora Holdings Group, LLC offers integrated investment advisory, wealth management and retirement plan services to individuals and institutions across the United States. The firm's comprehensive service offering is complemented by a dedicated team that has the breadth of expertise and operational structure of a global institution, with the responsiveness and flexibility of a boutique firm. For more information about Ancora, please visit https://ancora.net.