Kohl’s is an American department retail chain store , operated by Kohl’s Corporation. It has 1165 locations and stores operating in every state of U.S . The company appointed Ashley Buchana as CEO a few months back.Kohl’s removed its new chief executive, alleging he had violated conflict-of-interest policies involving outside vendors.

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The board of Kohl’s will begin a search to identify a new CEO in place of  Ashley Buchanan.

An investigation by outside counsel that was overseen by the board’s audit committee determined Buchanan “violated company policies by directing the Company to engage in vendor transactions that involved undisclosed conflicts of interest”, The detail of transactions were not disclosed .

Buchanan left his position as CEO .Shares in Kohl’s were up more than 6 per cent in mid-morning trading.