Ashley Buchanan: A Comprehensive Profile of the Former Kohl’s CEO
Quick Overview
- Full Name: Ashley Buchanan
- Birthplace/Date: Mount Pleasant, Texas, USA, 1974
- Education: BBA and MBA from Baylor University
- Most Recent Position: CEO of Kohl’s Corporation (Jan–Apr 2025)
- Previous Roles: CEO of The Michaels Companies, Senior Executive at Walmart and Sam’s Club
Education and Early Life
Ashley Buchanan earned both his Bachelor of Business Administration (BBA) and Master of Business Administration (MBA) from Baylor University’s Hankamer School of Business. While at Baylor, he played NCAA Division I tennis, demonstrating both academic and athletic excellence. He graduated with a BBA in Finance and Real Estate in 1996 and completed his MBA in 1998.
Career Path
Early Career
Buchanan began his professional journey at Bank of America in 1996. After completing his MBA, he worked as a retail consultant at Accenture from 1996 to 2004, then as a finance manager at Dell Computers from 2004 to 2007.
Walmart and Sam’s Club
In 2007, Buchanan joined Walmart, where he held various leadership roles over 13 years. He became Chief Merchant at Sam’s Club in 2017 and later took on the role of Executive Vice President and Chief Merchandising Officer for Walmart U.S. eCommerce in 2019, focusing on digital transformation to compete with Amazon.
CEO of The Michaels Companies
In 2020, Buchanan was named CEO of The Michaels Companies, a leading U.S. arts and crafts retail chain. He spearheaded the company’s digital expansion and omnichannel strategy. Under his leadership, the company was taken private in 2021 following an acquisition by Apollo Global Management.
CEO of Kohl’s
Buchanan assumed the role of CEO at Kohl’s Corporation in January 2025, marking his return to public retail leadership. He became the third CEO of Kohl’s in just a few years and was expected to revive the company’s declining sales and retail competitiveness.
Controversy and Termination
On May 1, 2025, Kohl’s abruptly fired Buchanan after an internal investigation revealed that he violated corporate ethics policies. Specifically, he directed a multi-billion-dollar contract toward a vendor linked to his former romantic partner, Chandra Holt, without disclosing the conflict of interest. As a result, Buchanan forfeited all equity awards and was ordered to repay part of his $2.5 million signing bonus.
Interim Replacement
Following Buchanan’s dismissal, Michael Bender, the board chairman since 2024, was named interim CEO. Bender has over 30 years of experience in retail and consumer goods, with past roles at Walmart, PepsiCo, and L Brands.
Conclusion
Ashley Buchanan was once considered a visionary leader in the retail industry, known for driving innovation at Walmart and Michaels. However, his career at Kohl’s ended under scrutiny, highlighting the importance of ethical leadership and transparency. His story serves as a reminder that even high-ranking executives are accountable for their decisions, especially in complex corporate environments.
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