Kohl’s Fends Off Activist Macellum’s Bid to Overhaul Board

Activist investor Macellum Capital Management’s bid for a board overhaul of Kohl’s Corp. is expected to be rejected by investors on Wednesday.

Kohl’s shareholders are expected to reject all 10 nominees that Macellum put forward for the board, according to people familiar with the situation. Kohl’s declined to comment. Macellum wasn’t immediately available to comment.

Shares of the Menomonee Falls, Wisconsin-based retailer rose 0.4% in early trading at 7:58 a.m. New York time.

The results were a blow to Macellum, which has a Kohl’s stake of nearly 5% and has been pressuring the company for two years to overhaul ...