Last month, a group of activist investors sought control of Kohl's board with nine candidates to replace nine incumbents. Kohl's stood firm, and now the group has reduced their candidate list from nine to five. But the retailer insists that the current board members have more meaningful experience than the group's candidates. While the activist investors are convinced that only a board overhaul can pull Kohl's out of mediocrity, Kohl's maintains that its current turnaround strategy is already accomplishing that goal, and that serious changes to the board and to a strategy already in place can only damage the retailer's prospects.
The five nominees are Macellum Chief Executive Jonathan Duskin, former Denny’s Chief Marketing Officer Margaret Jenkins, former Macy’s Chief Merchandising Officer Jeffrey Kantor, former Burlington CEO Thomas Kingsbury, and former Chico’s President Cynthia Murray.