After a long conflict, Kohl's and its activist investors seem to have finally reached a settlement. The website once devoted to criticizing Kohl's and its strategy has been taken down, and all sides sound conciliatory.
Kohl's stood firm against activist investors' initial demands for a board shakeup, insisting that Kohl's turnaround was already underway and any radical changes to the leadership would disrupt the progress already being made. Now the retailer has agreed to give seats on the board to two of the activist investor group's nominees. Christine Day, formerly CEO of Lululemon, will also join the board.
Kohl's CEO Michelle Gass said that she was looking forward to working with the new board members.
As for the investor group, in their statement, they called the new directors "all proven leaders in retail who will add valuable expertise" and said, "We are excited for the future at Kohl's."