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Reuters
Published
Oct 13, 2022
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Retailer Kohl's faces fresh call for board rejig from activist group Macellum

By
Reuters
Published
Oct 13, 2022

Activist investor group Macellum Advisors is once again pushing for board seats at the struggling department store chain Kohl's Corp and the ouster of its chairman, according to a letter from the hedge fund to the shareholders on Thursday.


Reuters



Macellum owns about 5% of the retailer and wants its candidates to replace some of the long-tenured directors, including chairman Peter Boneparth and other members of the executive committee.

This is not the first attempt by Macellum, which is led by veteran retail investor Jonathan Duskin, to change the board.

Earlier this year, the hedge fund had pushed to replace 10 directors when the retailer first tried to sell itself, but the move was rejected by investors in May.

The retailer decided against a sale and chose to remain independent in July, disappointing investors who had pushed for a deal and resulting in a plunge in its shares.

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