Kohl's is being urged to alter its board or explore a sale by activist investor Macellum, people familiar with the matter say
Macellum Advisors GP LLC, which has a roughly 5% stake in Kohl’s, has been urging the company to make changes including altering its board, people familiar with the matter said. Kohl’s has so far rejected Macellum’s request to add directors with retail experience or a shareholder to its board, the people said.
Kohl’s said in a statement it continuously examines all opportunities for maximizing shareholder value and that its strong performance in 2021 demonstrated its strategy is working. It said it plans to share more details about its strategic initiatives and capital allocation plans at its investor day March 7.
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