Ancora Issues Statement of Support Regarding Management Transition at Kohl’s
08 Novembro 2022 - 12:20PM
Business Wire
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 22nd 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.
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Longacre Square Partners Charlotte Kiaie / Miller Winston,
646-386-0091 ancora@longacresquare.com
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