Kohl’s Names Tom Kingsbury as New Chief Executive Officer (2)

Kohl’s Corp. named Tom Kingsbury as chief executive officer as the apparel retailer contends with sinking sales and inflation-strained shoppers.

Kingsbury, 70, who is currently the interim CEO and a member of the company’s board, will assume the role immediately, the company said in a statement.

The move comes after former CEO Michelle Gass, 54, left the company in December for Levi Strauss & Co. after a series of challenges for the retailer, including a push by activist shareholders to sell the company. Kingsbury, who was appointed to the board as part of an agreement with activists in ...