Kohl's Corporation announced that Chief Executive Officer Michelle Gass plans to step down as CEO and member of the Kohl's Board of Directors, effective December 2, 2022, to accept another opportunity. The Board appointed Tom Kingsbury to serve as interim CEO from December 2, 2022 until a permanent successor is named. The Board also formed a committee of the Board, led by Michael Bender and including Christine Day, Margaret Jenkins, Peter Boneparth and Tom Kingsbury, to oversee the search for a new CEO.

Mr. Kingsbury, age 70, a director of the Company since 2021, previously served as President and Chief Executive Officer of Burlington Stores Inc. from 2008 to 2019, and as Chair of the board of Burlington Stores Inc. from 2014 to 2020. Prior to that, he served as Senior Executive Vice President – Information Services, E-Commerce, Marketing and Business Development – with Kohl's Inc. from 2006 to 2008. Prior to joining Kohl's Inc., Mr. Kingsbury held various management positions with The May Department Stores Company, an operator of department store chains, commencing in 1976 and as President and Chief Executive Officer of the Filene's division from 2000 to 2006.

He is currently a director of Tractor Supply Company, BJ's Wholesale Club Holdings Inc., and Big Lots Inc.