Retailer Kohl's CorporationKSS has announced senior management changes to enable smooth operations.
Kohl's has appointed Michelle Gass to the position of Chief Merchandising and Customer Officer. In her new role, Gass is expected to oversee all of Kohl's merchandising, planning and allocation, and product development functions. Gass will also be responsible for overall customer engagement strategy, which includes the company's marketing, public relations and social media efforts. Gass will continue to report to Kevin Mansell, Kohl's chairman, chief executive officer and president.
Kohl's also promoted Wesley McDonald to the position of Chief Financial Officer and Richard Schepp to the position of Chief Administrative Officer.
Kohl's is also looking for a new Chief Operating Officer ('COO'), who along with Gass, can succeed Mansell upon his eventual retirement. Until the company finds its new COO, Mansell will oversee the responsibilities of a COO for the company's store operations, logistics and supply chain network, information and digital technology, e-commerce strategy and operations, and store construction and design.
Mansell became the CEO of the company in 2008. However, since then, reportedly, the retailer's sales excluding newly opened or closed stores have been sluggish. Profits have also been weak.
Like most of the retailers, Kohl's has struggled hard owing to a challenging retail/sales environment in the U.S. However, Kohl's continuous efforts to improve its business coupled with its strategic initiative "the Greatness Agenda" is expected to improve sales of the company. Further, the recovery in macro-economic environment and lower fuel prices might also increase consumer spending power, which in turn will boost traffic at the stores.
The new appointments are expected to boost growth when the retail industry is struggling with budget-conscious shoppers who are increasingly turning to the Internet for everyday purchases. Another retailer Wal-Mart Stores, Inc. WMT also recently announced the appointment of Greg Penner as the Chairman of the company's board. (Read: Wal-Mart Keeps Chairman Role in the Family; Appoints Penner ).
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